House Bill Aims to Legalize Charlotte’s Web Medical Marijuana
July 29th, 2014
Policy, Top News
U.S. Reps. Scott Perry (R-Pa.), Steve Cohen (D-Tenn.), and Paul Broun (R-Ga.) introduced a bipartisan bill to the House of Representatives this week to legalize a compound in marijuana used to treat severe epilepsy. The Charlotte’s Web Medical Hemp Act of 2014 would exclude therapeutic hemp and CBDs from the definition of marijuana in the U.S. Controlled Substances Act, which makes it illegal now.
The House bill comes after 11 U.S. states have already legalized CBDs for limited medical use or research. So far, 23 U.S. states have also more broadly legalized medical marijuana covering a variety of different conditions. Colorado and Washington State have also legalized recreational marijuana, while other states like Alaska, Oregon, and Washington D.C. are considering the same move.
While the bill’s sponsors reiterated that it does not change their stance on marijuana, the bill would be monumental to the medical marijuana industry if signed into law. Therapeutic hemp and CBDs contain little of the psychoactive substance that creates the marijuana high, while both have proven to be quite effective in early-stage clinical studies addressing many medical conditions.
Some industry experts, however, are concerned that the bill may be too specific in targeting CBDs rather than all of marijuana’s medical uses. Of course, the legislation would also fail to yield the other purported benefits of recreational marijuana legalization, including increased tax revenue and lower crime rates. Those opposed to any legalization argue that the bill is a move towards recreational legalization.
The House bill must pass multiple House committees before it reaches the floor for consideration. If it passes the House, it must then be considered by the Senate and President before being signed into law.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
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