DENVER--(BUSINESS WIRE)--A coalition of companies related to the legal cannabis industry have announced the formation of the New Federalism Fund (NFF), an effort dedicated to working with Congress and the administration to protect current state-based regulatory systems for the legal cannabis industry. Priorities of the group include maintaining the freedom to operate in states that have legalized the regulation and sale of cannabis, limiting the use of enforcement resources in these states and changing federal tax law so that all businesses are treated equally. All of these priorities have become increasingly important in light of the recent statements from the Department of Justice and the administration concerning their possible approaches to federal cannabis laws.
"As the President stated in his recent address to Congress, every problem facing our nation can be solved by working together," said Neal Levine, Senior Vice President of Government Affairs at LivWell Enlightened Health, National Cannabis Industry Association Board Member and Chairman of the New Federalism Fund. “We agree and look forward to working with the President and Congress to support and improve the legal framework for cannabis that promotes public safety, local economic development, and our federalist system.”
The NFF will work in Washington D.C. to ensure that lawmakers understand how the cannabis industry is structured, helps countless critically ill patients, contributes billions of dollars to state economies and tax coffers, employs tens of thousands of Americans, removes marijuana from the criminal market, and deals a significant blow to international cartels and traffickers.
"Twenty-eight states plus Washington D.C. have legalized marijuana in some form, with eight states plus Washington D.C. legalizing adult use outright,” continued Levine. "Marijuana isn’t going anywhere. Someone is going to sell it. So the question is, do we want regulated and compliant businesses who check IDs and pay their taxes to do that, or drug dealers? We want our elected officials to know that a regulated cannabis industry is the best way to stop the illegal drug trade while growing our local economies. Local control over regulated commerce just makes sense. It’s a building block of federalism for good reason.”
About New Federalism Fund
The New Federalism Fund is a non-partisan 501(c) 4. Its board members and contributors are those interested in state-first regulation of state-based commerce and creating a common sense regulatory system for those who are in or serve the state-based cannabis industry.