Hemp sticks with amended farm bill and makes it through the houseJesse Clymer
An amended version of the farm bill passed in the House 216 to 208 on Friday. The new farm bill is one of two parts; the part that passed focuses on the agricultural side. The second part focuses on the Supplemental Assistance Program and has yet to be addressed. The good news for the hemp industry is that the hemp amendment we discussed a couple of weeks ago was added to the farm bill that just passed. While this doesn’t make it law just yet, it’s well on its way. This amendment, if passed, will allow higher learning institutions to cultivate hemp for research purposes.
There are two other bills related to hemp that are currently waiting to be voted on. Both have to do with cultivating industrial hemp but one is in the House and the other is in the Senate. If passed, the bills will removed feral restrictions on the domestic cultivation of industrial hemp, which has no THC, the chemical that induces the “high” in marijuana.
Allowing hemp to grow in America would allow the industry to thrive. Currently hemp is grown in China, Canada, and Mexico and finished goods are then imported to the US. By growing it in the US, it would lower costs for the product and allow more manufacturing abilities to come with it. American hemp would spur job creation, increase tax revenues, and decrease textile imports.