‘The Clock Is Ticking’ For Cannabis Rescheduling, Says Former Congressman Ed Perlmutter
In a recent fireside chat hosted by Pablo Zuanic, senior equity analyst, former U.S. Rep Ed Perlmutter shared his insights on the evolving cannabis landscape.
With Congress grappling with cannabis rescheduling and banking reforms, Perlmutter’s insider knowledge offers a crucial perspective for cannabis investors.
“When I first introduced this in 2013-2014, I had to deal with the chuckle factor,” said Perlmutter, often hailed as the founding father of the SAFE Banking Bill.
The recent passage of a modified version, SAFER, in the Senate Banking Committee marks progress, yet the path forward remains uncertain. “We’re in campaign season now,” Perlmutter warned, underscoring the time constraints.
Rescheduling And Political Landscape
During the chat, Perlmutter delved into the intricate process of cannabis rescheduling initiated by President Joe Biden. The administrative procedure, bound by the Administrative Procedures Act, involves specific steps and timelines for public comment and hearings.
Perlmutter expressed optimism about Vice President Kamala Harris potentially taking the helm. Her prior sponsorship of the SAFE Banking Bill signals a strong understanding and support for cannabis reforms.
However, the upcoming elections introduce uncertainty. Perlmutter outlined a scenario where the current administration’s initiatives might face challenges depending on the election outcomes.
He also highlighted the role of …