President Donald Trump on Sunday shared a video promoting the health benefits of cannabis—suggesting that covering CBD under Medicare would be “the most important senior health initiative of the century.”
As the marijuana industry awaits Trump’s decision on a pending rescheduling proposal, the president’s decision to put a spotlight on the video that was produced by The Commonwealth Project immediately drew the attention of stakeholders.
What the nearly three-minute clip—which repeatedly refers to “hemp derived CBD”—means for broader marijuana rescheduling’s prospects is unclear. But it also comes amid a contentious debate in Congress about federal hemp laws, with some GOP lawmakers vying for an outright ban on cannabis with any trace amounts of THC. Experts say that would effectively eradicate the hemp market, as it’s considered unfeasible to produce even non-intoxicating CBD products without at least some level of THC.
The video Trump posted also briefly features a Fox News clip describing the economic benefits of medical marijuana legalization, saying that on an annual basis it would amount to cost savings of “$64 billion a year if cannabis is fully integrated into the healthcare system.”
“The groundbreaking 2018 Farm Bill championed by President Trump was the first step” toward modernizing health care integrating cannabis, the narration says. That refers to the landmark legislation that federally legalized hemp containing up to 0.3 percent THC, which Trump signed in his first term.
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