Local cannabis dispensary says marijuana rescheduling is good for business

MEDFORD, Ore. – A Medford cannabis dispensary owner says the rescheduling of marijuana would be great for his industry.

As NBC5 News reported earlier this week, the Biden Administration plans to announce an interim rule reclassifying the drug from its current Schedule I to the much less stringent Schedule III.

Since the enactment of the Controlled Substances Act more than 50 years ago, cannabis has been in the same legal category as heroin, meth and LSD.

The new classification would loosen restrictions on lab research as well as allow dispensaries to deduct from their taxes what would normally be regular business expenses.

David Uribe, owner of Medford Dispensary Kanopy 7 says he’s very excited for the change.

“All cannabis companies pay a ton of taxes just to stay going because we hope that these kind of moves would help us in the future,” Uribe said. “I’ve been doing this for 25 years, this is my life’s blood, this is my passion, but I still don’t make money because of these taxes.”

In the United States, cannabis is legal in 38 of 50 states for medical use and 24 states for recreational use.