Don Murphy Talks Cannabis Actions Last Week In Washington
In this episode of the Trade To Black podcast, we join forces with cannabis lobbyist and TDR correspondent Don Murphy to dissect the latest actions and cannabis discussions happening in Washington, DC. There’s been a lot of speeches by figures like Congressman Earl Blumenauer, Treasury Secretary Janet Yellen, and HHS Secretary Becerra. These actions and political dramas are having an impact on the cannabis sector and stock momentum.
But what’s actually going on, if you’re a prospective investor? Stock volume has been really moving. The recent market short squeeze, Anthony Varrell speculates, could be market dynamics related to excise taxes. If it is, then Schedule III will see some major tax reform for the MSOs. The board could be setting up nicely for the future. We’ll share our thoughts on that LP action.
To find out what’s going on in the hallways in Washington, however, we touch base with Don Murphy, a longtime friend to the podcast. Don Murphy recaps some of the big events that happened this past week in case you missed them and gives us what his takeaway is. What is that takeaway? Schedule III is likely to happen sooner rather than later. He’ll explain why.
On March 20th, Congressman Earl Blumenauer expressed his vocal disapproval of the administration’s activities relating to cannabis, and pushed the HHS Secretary to ‘break up the logjam’ on these issues as it’s bordering on ‘malpractice.’ Don Murphy acknowledges that the left is upset, which has contributed to and culminated in some of what happened last week.
On the SAFER Banking front, Chuck Schumer, who has been closely involved with the bill, launched an online petition and asked people to support his push or legislation. How high does SAFER Banking rate as a priority for senate, especially if he is seeking more public support?
There’s a lot to unpack, and we’ll touch on all these cannabis rumors, actions, and statements made in Washington DC last week with Don Murphy. This is one episode you might not want to miss.
