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Obama’s $4 Trillion Budget Would Fund DC Cannabis

Ryan Allway

February 3rd, 2015

Policy, Top News

President Obama’s new $4 trillion budget proposal includes fine print that would open the doors to the legalization of cannabis in Washington DC. Despite the passage of adult-use initiatives last year by the majority of voters, the legalization of cannabis in the nation’s capital has remained uncertain given that Congress controls funding for the district and Republicans have indicated their strong opposition to any legalization initiatives.

In the budget proposal, the President added the word “federal” to the text saying that “federal funds” may not be used to enact any cannabis legalization initiatives. The language would leave the city with access to local funds to implement the new cannabis laws, which means that they would be able to sidestep Congressional approvals. If Congress doesn’t specifically act against the district and the language remains in tact, the measures should move forward.

The future of the district’s legalization initiative depends on a few different factors. Congress has 30 days to review the district’s proposed laws before they become signed into law. At the same time, the House of Representatives and Senate must both vote to approve the $4 trillion spending bill as-is with President Obama’s language in tact. Success in these two areas should pave the way for a successful legalization in the nation’s capital.

Many cannabis advocates are hoping that any legalization in the nation’s capital would help improve the odds for a federal level law in the future. At the same time, it could prove difficult for Congress to explicitly block the move to legalize the drug given the majority approval by voters. The issue has become somewhat of a hot button race issue given that marijuana arrests in the capitol are unevenly targeting African Americans.

In the end, the move by President Obama marks another move in the right direction for the legalization of adult-use cannabis in the nation’s capital, although the outcome remains to be seen.

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.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

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