Prepare for an Election Day Stock Surprise

As we suffer through the worst market volatility since the 2020 election year... The weeks leading up to November 5th could be the most important weeks of 2024 for your wealth. Marc Chaikin just stepped forward to warn of a new election stock warning.

House Democrats Urge DEA To Speed Up Cannabis Rescheduling

Franca Quarneti
October 01, 2024

Top Democrats from influential House committees are urging the Drug Enforcement Administration (DEA) to expedite the process of rescheduling cannabis.

In a letter sent to Attorney General Merrick Garland and DEA Administrator Anne Milgram, Representatives Jerrold Nadler (D-NY) and Frank Pallone (D-NJ), ranking members of the Judiciary and Energy & Commerce Committees respectively, stressed the need for quick action following a scientific review by the Biden administration.

See Also: ‘No Turning Back Now’: Cannabis Rescheduling Gains Momentum, Expert Offers Timeline

According to Marijuana Moment, the lawmakers argue that cannabis has “less potential for abuse than other drugs” and serves an “accepted medical use in treatment.”

Their comments align with recommendations from the Department of Health and Human Services (HHS) and the Department of Justice, which have called for the reclassification of cannabis from Schedule I to Schedule III under the Controlled Substances Act (CSA).

“We value the Department of Justice's steadfast commitment to prevent the misuse and diversion of controlled substances that pose a threat to public health," Nadler and Pallone wrote.

The lawmakers applauded the Biden administration for initiating the review and urged the DEA to “swiftly complete this process and transfer marijuana to schedule III.”

Push For Full Descheduling

While the immediate focus is on rescheduling to Schedule III, which would loosen some federal restrictions on cannabis, the legislators also urged federal agencies to explore further reform.

They said that “continuing to assess whether schedule IV, schedule V, or descheduling may be appropriate” could be the next step in aligning cannabis policy with evolving scientific and medical understanding.

Descheduling, which would remove cannabis from the CSA entirely, remains a key objective for many advocates and lawmakers, including Nadler, who has previously sponsored the MORE Act – a bill that would result in full legalization.

Election-Year Focal Point

The timing of the lawmakers' push comes as cannabis policy increasingly takes center stage in U.S. election politics. Both major parties are positioning themselves on the issue as the 2024 presidential election approaches.

However, final action on the rescheduling is not expected until after November, with the DEA scheduling an administrative hearing on the matter for December 2. This hearing will allow for further input from experts and stakeholders before the agency potentially finalizes its decision.

Read Next:

  • DEA Boosts Psychedelics Production For Research, Cannabis Quotas Hold Steady Ahead Of Rescheduling

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