On Friday, January 12, 2024, the United States Government released documents confirming the Department of Health and Human Services has recommended the Drug Enforcement Agency (DEA) to reschedule cannabis as Schedule III under the Controlled Substances Act.
“I can now share that, following the data and science, HHSGov has responded to POTUS’ directive to me for the Department to provide a scheduling recommendation for marijuana to the DEA. We’ve worked to ensure that a scientific evaluation be completed and shared expeditiously,”
-HHS Secretary Xavier Becerra/Twitter, X
The historical move represents a massive shift in stance from Cannabis’s current status of Schedule I. The extensive 252-page document details that cannabis is recognized to have a “currently accepted medical use in treatment in the United States” and posits that its “potential for abuse” is lower than that of substances listed in Schedules I and II. Federal health authorities have confirmed the completion of an analysis revealing that over 30,000 healthcare professionals in 43 U.S. jurisdictions are authorized to recommend medical Cannabis for more than six million registered patients, addressing at least 15 medical conditions.
Examining the Potential Changes of Rescheduling Cannabis
Currently Cannabis is categorized as a Schedule 1 Substance with no recognized medical value. This grouping places it alongside substances like heroin, LSD, and ecstasy. If cannabis were to be rescheduled, businesses involved in the cannabis industry would no longer be bound by Section 280(e) of the tax code. This change would permit these businesses to deduct ordinary expenses from their gross income.
Additionally, the rescheduling of cannabis could pave the way for more extensive research on the subject, marking one of the most significant outcomes of such a regulatory shift.
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