Could marijuana be re-classified as a less dangerous drug in CT?

MIDDLETOWN, Conn. (WTNH) — The U.S. Drug Enforcement Agency is moving to re-classify marijuana as a less dangerous drug — a move that would drastically affect dispensaries across Connecticut.

The federal proposal would change marijuana from a Schedule 1 drug to a Schedule 3 drug which is much less dangerous to the public.

The proposed law still needs to be reviewed by the White House Office of Management and Budget, and go through a public comment period before it is enacted.

Venue Flower Collective in Middletown is a fairly new cannabis dispensary that opened 10 months ago. If the proposal is passed, the shop could see a large financial boost.

“There’s going to be huge changes within the cannabis industry – us included, being on the recreational side, which is incredible. It was really exciting to hear the news,” said John Healey, the general manager of the dispensary.

If passed, it would also be the first time the drug has been re-classified in 50 years. Many cannabis retailers commend the move, saying it could help with capital gains and getting a tax break.

“It’s allowing us to deduct taxes like a normal retail business, so we get a real tax effect on us, really freeing up cash flow,” said Carl Tirella, the founder of Budr Cannabis.

“Specifically with the banking, it’s going to help out a lot,” Healey said. “You know making the products a different schedule now opens up financial institutions that will be able to work with us, which means being able to use credit cards and things like that.”

The Connecticut Cannabis Chamber of Commerce, which works with dozens of dispensaries, added that while retailers could save up to 70% on their expenses, pot consumers could also reap those financial benefits.

“(Cannabis stores) can’t make the same deductions that every other business in the country can,” said Adam Wood, president of the Connecticut Cannabis Chamber of Commerce. “So what it should lead to is ultimately a saving for consumers, so it’s a victory for consumers.”

But not everyone is in favor of the proposal, including State Republican David Rutigliano.

“I think the federal government should keep it either as a schedule 1 or 2. I think the modern-day THC, modern-day cannabis, is a lot more dangerous than it was 20 or 30 years ago,” Rutigliano said.

Rutigliano, who has voiced his opposition to the commercial legalization of cannabis in Connecticut, supported a bill that passed Tuesday which will increase enforcement of the sales of hemp-derived THC seltzers.

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