Donald Trump and Mitch McConnell are about to legalize Hemp
The hottest topic of the US is nothing but hemp that is ranked in the top stories of the year 2018. Earlier this week, Congress had passed the 2018 Farm Bill and according to the sources, Donald Trump is expected to sign the bill next week.
Hemp and its products are soon going to be legalized at the Federal level with this gesture of acceptance of the authority. Those who are yet confused what this 2018 Farm Bill is all about, here are all the details.
The Farm Bill comprises a separate section that will legalize hemp production in future while enablingevery resident to reap the utmost benefit of this magical plant. Now this bill has been headed to the president’s desk to be signed into law which is scheduled to happen next week.
Senate majority leader, Mitch McConnell stated that he would happily loan him his hemp pen to the president for the occasion to sign the bill. McConnell is a staunch opponent of legalizing marijuana. He has viewed out as a strong supporter for hemp while sponsoring the bill to make its way towards the legislation.
Hemp could be a new cash crop for the farmers of Kentucky were growing tobacco has been drastically dropped by almost 90% over the last century. According to the estimation in the US market, the hemp-based Cannabidiol (CBD) compound would worth nearly $600 million alone this year.
CBD is a boon for farmers
The farmers in Kentucky have been involved in hemp plantation since 2014. The Farm Bill has opened door of state-regulated pilot programs for growing industrial hemp. This hemp is one of the kinds of cannabis sativa plant that comprises 0.3% or less THC to ensure it doesn’t cause any psychoactive effect on the user. This feature has therefore affected the acceptance of CBD infused products in the market that is extracted from hemp, even though it is touted to have medicinal properties.
The 2018 Farm Bill is tremendously poised to bring opportunities for farmers to grow hemp legally while enabling it eligible for crop transfer across the states and crop insurance on consumer demand. With the legalization of hemp, it will be eventually removed from Schedule I of the Controlled Substances Act.
Not to be confused, the Farm Bill does establish hemp as an agricultural commodity. Hence, it is not a free-for-all product. As suggested by John Hudak, the federal government and states will be sharing the regulatory powers over hemp cultivation. The states will be liable to submit their programs for monitoring cultivation to the USDA for approval. In the case where states fail to adopt a plan, hemp producers can comply with the federal state and accordingly plan. Moreover, the does not generally decriminalize all CBD products, but only those containing CBD extracted from legally grown industrial hemp.