War On Drugs Recognized As Failure By US Senate, IRS Officials Want Legal Marijuana Banking Laws

The Senate Appropriations Committee issued a draft report demanding that the State Department explain why tens of billions of dollars spent on the international war on drugs has done virtually nothing to stop drugs and why the U.S. strategy remains “largely unchanged.” An Internal Revenue Service official said giving marijuana businesses access to banks “would make the IRS’s job to collect [taxes] a lot easier.” She also discussed the 280E provision and how the agency takes steps to help cannabis firms comply with tax law. Hemp retailers are scrambling in the wake of a Texas Department of State Health Services notice clarifying that the state classifies delta-8 THC as an illegal drug. It is currently in grey zone.