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Republicans Remain Divided on Pot Legalization

Ryan Allway

October 28th, 2015

Policy, Top Story

Republicans may seem to be oppose marijuana legalization on the surface, given their conservative values and opinionated action on issues like abortion, but the party has been split into two camps with very differing opinions on how the drug should be treated.

On one hand, Republicans are firm believers in states’ rights and limiting the role of the federal government. Jeb Bush, Mike Huckabee, Rand Paul, Ted Cruz, and Carly Fiorina have all endorsed the states’ rights approach to marijuana, which would permit states like Colorado to legalize the substance without the federal government intervening. Rand Paul has even raised money from the cannabis industry during a Denver campaign stop on these grounds.

On the other hand, conservative Republicans believe it’s the federal government’s prerogative to step in and prevent drug abuse. Marco Rubio, Bobby Jindal, Chris Christie, Rick Santorum, and Donald Trump have all argued that maintaining law and order trumps states’ rights and the federal government should crack down. Christie even stated that, “if you’re getting high in Colorado today, enjoy it. As of January 2017, I will enforce the federal laws”.

Many cannabis businesses are fearful that a Republican candidate could shut down their business and end the country’s progress in liberalizing the drug, although these fears are certainly nothing out-of-the-blue for industry participants. Marijuana remains a Schedule I Controlled Substance and, until its reclassified and/or legalized on a federal level, there will also be a risk that the government will change its stance on the drug.

Gaining Enough Momentum

The cannabis industry will rely on its momentum in order to fuel its growth and eventually become an industry that’s unstoppable by the federal government. After all, the tobacco and alcohol industries were both successfully liberalized, despite them being worse than marijuana in many ways. The reason is that they gained enough public support and financial momentum to make regulators rethink their intervention in Americans’ lives.

Colorado – the first state to legalize recreational marijuana – is on pace to double its tax revenue this year and generate upwards of $125 million in income from the drug. At the same time, there has been no rise in pot-related deaths, violent crimes, or even teen usage, which has helped the public become more accepting of the drug. In fact, the drug has increased in popularity in the state since its legalization with 58% support.

The marijuana industry is also gaining its footing when it comes to organizing political rallies and contributing to initiatives to move the industry forward. With a number of new industry organization popping up and contributions to presidential campaigns, the industry may be gaining enough financial firepower to combat government-led initiatives to stomp it out over the coming years by fighting in political battlegrounds and courts.

Looking Ahead to 2016

Republicans may be better off positioning themselves to be on the right side of history rather than trying to appease a vocal minority that is out of touch with changing public and scientific opinion, according to NORML, a marijuana industry association. With growing support for marijuana, particularly among younger voters, some Republicans may be alienating themselves from a demographic that could make a big difference in their campaign.

If an anti-marijuana President is elected, he or she can expect a fight from the legal marijuana industry as it continues to pick up steam and gain importance in the economy.

Image courtesy of Marc Nozell and used under Creative Commons.

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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