New Farm Bill Could Legalize Hemp and CBD
Diverse Biotech has always supported Hemp legalization, nationwide. We feel that society would be healthier if it had access to products that would support a healthier lifestyle. The problem with open legalization is the lack of true guidance from a doctor. With cannabinoids being used as drugs all across the country and no supportive education to back it up, this creates an unhealthy environment for patients and also for the products. Unsubstantiated claims and poor manufacturing standards cause problems and rightfully so, force regulators to get involved.
New Farm Bill Could Legalize Hemp and CBD
Every five years or so Congress renews and or revises the Farm Bill, a large, multifaceted piece of legislation that shapes federal agricultural and food policy. In 2014, the current Farm Bill was passed and expires at the end of this month on September 30th, 2018. Congress will need to pass a new version before month end or numerous important programs at the US Department of Agriculture (USDA) will be left without funding, a lot of funding – $430 billion.
The History Behind the Farm Bill
In 1933, during the Great Depression, farmers were concerned about staying in business due to plummeting prices. The first Farm Bill was passed to address those concerns. Today, the Farm Bill is a complex piece of legislation that addresses everything from the nutritional value of school lunches to international trade of farm products and the management of the national forests in the United States.
The Farm Bill and the Hemp Industry
Senator Majority Leader Mitch McConnell is one of hemp’s biggest advocates on the Farm Bill’s congressional conference committee. In 2014, at Senate Majority Leader Mitch McConnell’s urging, the 2014 Farm Bill created a pilot research program that authorized state departments of agriculture and universities to grow and research hemp under limited circumstances. While this was an important step forward for the industry, it wasn’t a free for all.
Federal prohibition on the crop placed many restrictions on its cultivation during the pilot period. For example, the bill limited the number of acres farmers could legally plant and before any plants were grown, farmers needed to obtain a waiver from the Drug Enforcement Agency (DEA).
Fortunately, despite the stringent guidelines, the pilot program was a success with at least 19 states participating. Additionally, since 2014, at least 40 states have since passed legislating regarding hemp cultivation such as addressing issues of licensing and seed certification.
It Hasn’t All Been Smooth Sailing
One major component of the burgeoning hemp industry is the production of CBD, the non-psychotropic cannabis extract that is already in widespread use.
CBD vendors have faced some legal threats both at the state and federal level. Other government agencies, like the Bureau of Reclamation have also interfered with growers at times.
2018 Farm Bill Could Fully Legalize Industrial Hemp & CBD
McConnell’s amendment to the 2018 Farm Bill would officially remove hemp from the DEA’s list of controlled substances, ending a decades long debate of the legal status of the plant.
Given hemps increased use in pharmaceuticals and textiles, with the Farm Bill set to expire on September 30th, American hemp producers are closely watching Congress.
If the new Farm Bill is passed, and hemp crop is legalized under federal law, it will allow CBD to be legally sold in all 50 states. Its full legalization would fundamentally alter hemp producers’ access to financial service benefits like federal crop insurance and it would open the floodgates for investment opportunities.
So, What’s Holding Up Congress?
The legislation is partly hung up on an issue that has nothing to do with Hemp or the CBD Industry. They are divided on whether to attach new work requirements for recipients of what was formerly known as food stamps, now called the Supplemental Nutrition Assistance Program (SNAP).
A Congressional Budget Office analysis of the House bill found that 1.2 million would lose benefits by 2028 under the House bill. Democrats in both chambers strongly oppose increased work requirements and it is unlikely a bill with work requirements could pass the Senate.
About Diverse Biotech, Inc.
Diverse Biotech Inc. is an innovative, clinical-stage biopharmaceutical research company, committed to discovering and developing novel therapeutics from its proprietary cannabinoid product platform.
For more information on Diverse Biotech, please contact Diverse Biotech by phone at 407-776-9217 or visit the company’s headquarters at 805 S. Kirkman Rd, Suite 202, Orlando, Florida 32811.