Blumenauer To Host Media Event To Address Tax Equity Reform For Cannabis Businesses

Congressman Earl Blumenauer is set to host a virtual media event to discuss the latest developments in cannabis policy.

One of the topics that are expected to get brought up includes the potential legislative actions to be taken by the 118th Congress. As the Founder and Co-Chair of the Congressional Cannabis Caucus, Blumenauer has been a vocal advocate for progressive cannabis policies and tax equity reform for cannabis businesses.

Members of the media are encouraged to attend and participate in the conversation.

Blumenauer's efforts to promote cannabis reform have gained significant traction in recent years, with a growing number of states legalizing marijuana for medicinal and recreational use. However, despite this progress, the cannabis industry still faces significant barriers due to the ongoing federal prohibition of the substance.

In particular, cannabis businesses are subject to a punitive tax regime that prevents them from taking advantage of many of the tax benefits available to other industries. Blumenauer has been a leading advocate for tax equity reform for cannabis businesses, arguing that these companies should be treated like any other legal enterprise and be allowed to deduct normal business expenses from their taxes.

As the 118th Congress gets underway, Blumenauer is expected to continue his push for cannabis reform and tax equity for the industry. Members of the media attending the virtual availability can expect to hear more about these efforts and the potential impact they could have on the cannabis industry as a whole.

This story is in progress. Benzinga will update you as we learn more.

Image Credits: S.Borisov and OpenRangeStock on Shutterstock Edited By Benzinga