Rescheduling Marijuana to Schedule III Eases Research and Tax Burdens

Key Quotes

"for more than 50 years the us government has classified marijuana as what's known as a schedule one drug meaning that it's dangerous it's bad for you and that it belonged in the same category as lsd and heroin but that could change soon thanks to a directive from president trump today i'm pleased to announce that i will be signing an executive order to reschedule marijuana from a schedule one to a schedule three controlled substance with legitimate medical uses"

This quote highlights the historical classification of marijuana as a Schedule I drug, emphasizing its perceived danger and lack of accepted medical use. The speaker announces a significant policy shift, proposing to reclassify it to Schedule III, which acknowledges potential legitimate medical applications. This indicates a fundamental change in the federal government's stance on marijuana.

"so the controlled substances act that was passed by congress decades ago under president nixon outlined different categories different tiers of drugs america's public enemy number one in the united states is drug abuse in order to fight and defeat this enemy it is necessary to wage a new all out offensive and it's it's the riskiness of the potential for abuse and also whether there's any medicinal value um for a particular drug"

The speaker explains the framework of the Controlled Substances Act, established under President Nixon, which categorizes drugs based on their potential for abuse and accepted medical use. This provides the foundational context for understanding drug scheduling. The act's original intent was to combat drug abuse, influencing how substances are classified.

"right so schedule one is like the the riskiest of drugs right there's a high potential for abuse and there's no medicinal value so you have things like lsd heroin um and then uh of course marijuana which has been a you know a source of contention for many many years um even as so many states have legalized marijuana either for medical purposes or for recreational purposes"

This quote defines Schedule I drugs as those with a high potential for abuse and no accepted medical value, listing examples like LSD and heroin, and notably, marijuana. The speaker points out the ongoing contention surrounding marijuana's classification, especially given its increasing legalization at the state level for both medical and recreational use. This highlights the discrepancy between federal and state drug policies.

"so this is a big deal this is a big uh change in federal policy now what it means practically that is going to be you know still up in the air and it might not be as much as your layperson thinks um but it certainly is a big message in federal marijuana policy"

The speaker emphasizes that the reclassification of marijuana to Schedule III represents a significant shift in federal drug policy. However, they caution that the practical implications for the average person may not be immediately apparent or as substantial as one might expect. This suggests that while the message is impactful, the concrete changes could be nuanced.

"well so this actually goes back to the biden administration and this was actually a proposal that the justice department under biden submitted look folks no one should be in jail merely for using or possessing marijuana period far too many lives have been upended because of a failed approach to marijuana and i'm committed to righting those wrongs you have my word on it"

This quote reveals that the initiative to reclassify marijuana originated with the Biden administration, with a proposal submitted by the Justice Department. The speaker, quoting Biden, expresses a commitment to rectifying past injustices caused by marijuana prohibition. This indicates that the current action is a continuation of a policy direction already established by the previous administration.

"well you know trump is not someone that cares much for substances he's famously not a drinker but um i think you know i think he realizes it's a politically popular thing to do despite pushback and objections from leaders within the republican party that being said as with many things with the trump administration there's sort of some built in contradictions because at the same time he's been launching this you know very aggressive war on drugs and and targeting drugs like cocaine and fentanyl but also pardoning people who have been involved in drug trafficking"

The speaker suggests that President Trump's support for reclassifying marijuana is driven by its political popularity, despite opposition within the Republican party. They also point out contradictions in Trump's approach to drug policy, noting his simultaneous aggressive stance against certain drugs and pardons for drug traffickers. This highlights the complex and sometimes inconsistent nature of his administration's drug-related actions.