The U.S. House passed passed an $867 billion farm bill to on Wednesday, to help those in the agricultural industry, sending the legislation to President Trump for a signature.
The bill easily passed by a 369-47 vote after similarly passing by a margin of 87-13 in the Senate the day before. Complete details are covered below.
Of key interest those in the cannabis industry is the end to fifty years of prohibition against growing hemp, potentially opening the door to hemp production in all 50 states for commercial use, including CBD. CBD represents broadly the non-impairing chemical compounds that occur in cannabis plants. Hemp, through selective cultivation and breeding, is the same plant species but without the THC found in other recreational and medicinal varieties. The potential to grow hemp outdoors commercially is potentially very disruptive for current LP’s hoping to capitalize on the CBD craze, as full spectrum CBD could easily be obtained from hemp without the legal restrictions regarding its handling.