Story perspectives

Trump Administration Moves Marijuana to Schedule III, Tax Deduction Granted

4/24/2026

Summary

Story summary

Republican operative Roger Stone urged a swift marijuana reclassification before the 2026 midterm elections.
U.S. President Donald Trump’s administration reclassified marijuana to Schedule III, permitting state-licensed medical cannabis companies a federal tax deduction for business expenses.
Acting Attorney General Todd Blanche signed the order, stating it would improve healthcare by enabling targeted research.
The reclassification does not legalize marijuana, change existing sentences, or remove banking and interstate transport restrictions.

History

Historical Context

The 1937 Marihuana Tax Act criminalized cannabis in the U.S., imposing heavy taxes that curtailed its use despite some medical allowances. This law was influenced by figures like Harry Anslinger and aimed to suppress the hemp industry. Roger Stone's recent advocacy for cannabis reclassification reflects ongoing efforts to reform cannabis laws, potentially reshaping healthcare research and the cannabis industry amid changing public attitudes.

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Story summary

Republican operative Roger Stone urged a swift marijuana reclassification before the 2026 midterm elections.
U.S. President Donald Trump’s administration reclassified marijuana to Schedule III, permitting state-licensed medical cannabis companies a federal tax deduction for business expenses.
Acting Attorney General Todd Blanche signed the order, stating it would improve healthcare by enabling targeted research.
The reclassification does not legalize marijuana, change existing sentences, or remove banking and interstate transport restrictions.

1 / 2