CT Cannabis Chamber Of Commerce Applauds Historic Federal Rescheduling Of Marijuana, Tax Relief Benefits

From CT Chamber Of Commerce:

The Connecticut Cannabis Chamber of Commerce commends the Trump Administration’s announcement to reschedule marijuana from a Schedule I to a Schedule III substance under the Controlled Substances Act—a major milestone for federal cannabis policy and the state-legal cannabis industry.

This historic policy shift, which formally recognizes cannabis as having accepted medical use under federal law, promises meaningful tax relief for cannabis operators by eliminating punitive barriers under Internal Revenue Code Section 280E that have historically restricted normal business expense deductions for cannabis companies. One of the CT Cannabis Chamber’s first successful legislative priorities was to reform 280E restrictions to allow for state tax deductions for cannabis businesses. Rescheduling is widely viewed as one of the most significant federal cannabis reforms in decades and is expected to unlock new economic opportunities for licensed operators while enhancing access to capital and research pathways previously hindered under the most restrictive drug schedule. MJBizDaily

“This landmark step forward acknowledges what Connecticut and states across the nation have demonstrated: regulated cannabis is a legitimate medical product and economic driver,” said Adam Wood, President of the Connecticut Cannabis Chamber of Commerce. “We commend the Administration for advancing this policy and its potential to provide much-needed tax relief and regulatory clarity for state-licensed businesses.”

The Chamber also recognizes the role of industry leadership and advocacy in advancing federal reform. Trulieve Cannabis Corp., a member of the CT Cannabis Chamber of Commerce, represented the cannabis industry at the highest levels of federal policymaking, including at the White House. According to multiple sources, Kim Rivers, CEO of Trulieve, joined industry advocates in the Oval Office to discuss the importance of federal rescheduling and medical research access — efforts that contributed to elevating cannabis policy discussions with the administration. Marijuana Moment

“Connecticut’s cannabis industry has long championed sensible federal reform that harmonizes with state-level regulations,” continued Wood. “We salute the leadership of our partners across the industry, including Trulieve, who helped advance the conversation at the national level.”

While rescheduling does not legalize recreational cannabis federally and does not fully resolve all federal-state regulatory inconsistencies, it is a transformative step toward economic justice and industry sustainability. The Chamber remains committed to advancing equitable policy that supports small and diverse cannabis businesses in Connecticut and nationwide.

About the Connecticut Cannabis Chamber of Commerce
The Connecticut Cannabis Chamber of Commerce is a member-driven organization dedicated to advancing public policy, economic opportunity, and equity in the cannabis industry. The Chamber supports licensed operators, cultivators, retailers, and ancillary service providers through advocacy, education, and community engagement.