Wednesday, July 24, 2024

Can A Lawsuit Save Small Cannabis Businesses

Small businesses are the backbone of the economy, but the Federal Government is ok breaking a few bones.

Marijuana has become increasing mainstream.  With 90% of the public open to it being legal in some form. Companies from Pfizer to Miracle Grow have jumped in and other “vice” companies from BAT, Molson Coors, and Heineken to the $22+ billion market.  It seems great, but the industry is struggling. Can a lawsuit save small cannabis businesses?

The Biden administration has been incredibly slow following up on his campaign promise to bring on federal legalization, the Trump term did nothing, rescheduling is just starting and California and New York have ongoing major issues. The House passed SAFE Banking 7 times and now the Senate is on board with SAFER Banking and the new House Speaker is not a fan of helping the industry.  Small businesses continue to struggle.

RELATED: California or New York, Which Has The Biggest Marijuana Mess

Some cannabis companies have turned to superlawyer David Boies who is suing Attorney General Merrick Garland to strike down marijuana restrictions now in place under the federal Controlled Substances act.  This could provide the relief mom and pop businesses need.

three people standing on roadside near building during nighttime

What the public doesn’t understand and Congress refuses to address is owning a small business is a major, hard endeavor, and currently, federal policy makes it even harder.  Small businesses receive very little tax write-offs, can’t use Small Business Adminstration loans, major banks won’t touch them and ding the owners and employees for personal loans if revealed they work for a weed company.

Ted Olson, a conservative attorney who knows Boies and has opposed him shared “His timing is good. this is the sort of thing this court is looking at”.

“An overwhelming percentage of the American people believe marijuana sales should be legal and also safe and regulated”, said Boies

RELATED: Science Says Medical Marijuana Improves Quality Of Life

There are mixed winds about cannabis right now, the public wants it and Ohio just switched to full recreational.  But Congress is in disarray and the Speaker doesn’t drink, smoke or swear and discourages is staff from doing any of it. Maybe the lawsuit can force the current administration to update the laws and help small businesses.

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