Industrial Hemp Makes it Into the Final Farm Bill
The House analog of the McConnell-sponsored inclusion of industrial hemp production allowance in the 2019 Farm Bill is official and also moves forward with the legalization of industrial hemp production. This represents a tremendous economic opportunity for the U.S. and is a further indicator that broader deregulation is likely on the horizon. Six months ago, I was saying we were 3-5 years away from the reclassification of cannabis from Schedule 1. I am growing more and more convinced that this could happen within the next legislative session…so maybe 3-5 months is a closer guess.
This is another prime opportunity to address the traceability of hemp at the federal level. I wrote a white paper on this very subject and shared it with the offices of several relevant congressmen during NCIA D.C. Lobby Days back in May. I will share a copy with you if you join my news list. A new version is already in the works to reflect the status of the Farm Bill. There’s also no reason we should be frightened of romaine lettuce right now – it’s time to let today’s technologies in traceability handle today’s requirements in ensuring broader safety protocols for everyone.