Executive Director's Weekly Report

Hello!

Rescheduling has been the focus at CFCR this week. Our committee chairs and Board have been meeting to discuss. For added context behind these discussions, please read,?"Why Cannabis Cannot be De-Scheduled by the Biden Administration."

Specifically, we are noting that,?"... it seems pretty clear that if cannabis were not de-scheduled, but rescheduled to Schedule III or lower, the cannabis industry would no longer be subject to extraordinary punitive tax rates under IRS Code § 280E, which?specifically applies to controlled substances listed on Schedules I and II. Eliminating 280E would be a major boost to every U.S. cannabis business, from publicly listed MSOs to stand-alone retail dispensaries."?

I'd like to personally thank?Albert "Albe" Angel, co-chair of our Corporate and Business Committee for the research he has done this week and the primer he put together for our Committees and Executive Leadership. Thank you, Albe!

Several committee members have been looking into SAFE, and the general consensus seems to be that the Biden announcement?has, on balance, energized the conversation around it. As has been reported, there are active conversations occurring among key senate offices about SAFE and related language. Senator Booker has recently said that Congress has a "good shot" at passing modest?cannabis reforms?including banking and justice provisions. However, the talks continue. As expected, everyone is eager to see how the November 7th election results affect these SAFE conversations and cannabis reform more broadly.

All eyes on November.

CFCR was also in the news this week because?we have a new Executive Director!?It's my distinct pleasure and honor to introduce?Deborah Johnson, who will be stepping into this role on November 1st! Deborah and I have been working closely together for the past several months and we’ve been focused on a formal transition period throughout month. You will find in Deborah a professional, experienced, wise, kind, and diligent colleague. Moreover she is already recognized as a luminary for this industry and you'll never find a better advocate for a strong cannabis marketplace!?

I'll save my goodbyes for next week's newsletter! In the meantime, there's much to be done! And chief among the good work ahead is the webinar this coming Thursday at 1pm ET with two top FDA leaders to discuss the agency's approach to cannabis science, policy, and regulation.?REGISTER HERE

CFCR continues to make true progress - the sort that is sometimes unnoticed because it's quiet and persistent.?As Mozart said, "We live in this world in order always to learn industriously and to enlighten each other by means of discussion."?

I encourage all of you, who wish to be part of these important discussions, to please support CFCR with a membership. We look to you to?JOIN US TODAY?and sustain this work ... this progress.?

All my best,?

Sarah

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