Potentially rewarding wealthy cannabis donors who gained access to him through million-dollar fundraisers, President Donald Trump is reportedly considering reclassifying marijuana from Schedule I to Schedule III.
Story Snapshot
- Trump told donors at a $1 million-per-plate Bedminster fundraiser he would “look at” marijuana rescheduling.
- White House Chief of Staff Susie Wiles has compiled agency positions on moving cannabis from Schedule I to Schedule III.
- Cannabis industry executives, including Trulieve CEO Kim Rivers, directly lobbied Trump at the high-dollar event.
- Rescheduling would provide massive tax relief to cannabis companies through the elimination of 280E restrictions.
High-Dollar Donor Access Drives Policy Consideration
President Trump’s August 1 fundraiser at his Bedminster golf club provided cannabis industry executives direct access to influence federal drug policy.
At the $1 million-per-plate event, the president told attendees, “We need to look at” marijuana rescheduling after Trulieve CEO Kim Rivers and other industry leaders urged action. The White House confirmed the administration is evaluating all policy and legal implications of the potential change.
Federal Agencies Compile Rescheduling Analysis
White House Chief of Staff Susie Wiles has requested and compiled agency positions on marijuana rescheduling, according to multiple reports
The review continues the process initiated under the Biden administration, but left incomplete. Federal agencies including HHS, DOJ, and DEA are providing analyses on moving marijuana from Schedule I to Schedule III under the Controlled Substances Act.
Current Schedule I Classification Equates Marijuana with Heroin
Marijuana currently sits alongside heroin and LSD in Schedule I, the most restrictive tier under federal law. This classification defines substances as having high abuse potential and no accepted medical use.
Schedule III designation would recognize medical applications and lower abuse potential, enabling expanded research pathways and FDA-regulated therapeutic development while maintaining federal control.
Economic Windfall for Cannabis Industry
Rescheduling would eliminate Section 280E tax restrictions that prevent cannabis companies from deducting standard business expenses. This change could dramatically improve profit margins for the multibillion-dollar industry.
Large multi-state operators would benefit disproportionately, while smaller operators would gain tax relief but still face significant compliance costs and regulatory barriers.
https://twitter.com/TTA_NewsNetwork/status/195486758433715024
White House spokeswoman Abigail Jackson stated the president’s decision will be guided by “what is in the best interest of the American people.”
However, internal debate reportedly divides advisers between those urging fulfillment of campaign pledges and others warning of potential political backlash from traditional conservative constituencies who oppose drug liberalization policies.
Sources:
Fox Business: Trump considers reclassifying marijuana as less dangerous drug
The Daily Beast: Trump Considers Giving Big Gift to Marijuana Enthusiasts
UPI: White House confirms Trump considering marijuana rescheduling
