Small Business Majority submits comments in support of the DEA’s proposed rule to reschedule marijuana as a Schedule III substance

On July 17, Small Business Majority submitted comments in response to the U.S. Drug Enforcement Agency’s proposed rule to reschedule marijuana under the Controlled Substances Act. Due to current restrictions, cannabis businesses, the majority of which are small businesses, are unable to access key tax deductions, government-backed financing, and additional small business resources to help support their enterprises. Rescheduling marijuana as a Schedule III substance would substantially benefit small cannabis businesses by loosening tax restrictions, enabling them to grow and reinvest back into their businesses.