Whether you’re ready for it or not, election season is now in full swing. Roughly a dozen candidates still remain in the field to become president, including incumbent Republican Donald Trump, and quite a few Democratic contenders.
While there are a number of issues that’ll be debated during this election season, it’s liable to be the first presidential election cycle where marijuana really takes center stage. After all, a record-tying 66% of Americans favor legalizing cannabis nationally, according to Gallup, with an April 2018 poll from the independent Quinnipiac University finding that better than 9 in 10 Americans supports patient access to medical marijuana.
Knowing exactly where the candidates stand on cannabis is going to be important for cannabis users, workers, and pot stock investors. With that being said, let’s take a closer look at current President Donald Trump’s views on marijuana.
Donald Trump favors the status quo
As you’re probably well aware, marijuana has firmly remained a Schedule I substance at the federal level in the three-plus years that Trump has been in the Oval Office. As a Schedule I substance, it’s illicit, prone to abuse, and is not recognized as having any medical benefits. This classification has proved a hindrance in terms of obtaining nondilutive forms of financing for U.S. pot stocks, and it allows Section 280E of the U.S. tax code to come into play, thereby allowing for few, if any, corporate tax deductions.
Published: February 16, 2020