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As members of Congress burned the midnight oil to pass a $1.3 trillion budget bill by their March 23 deadline, they attached a recurring "rider" that bans the U.S. Department of Justice from using funds to interfere with medical marijuana in states that have legalized it.
U.S. President Donald Trump went on to sign that $1.3 trillion spending measure, which protects medical marijuana businesses through at least Sept. 30. And this time he didn't include a signing statement reserving his right to ignore that rider, which he did last May.
In other words, we just got another "green light" from Washington.
Now, this isn't exactly a slam dunk for the industry: Some lawmakers wanted to extend these protections to cover recreational marijuana as well, but the U.S. House Rules Committee blocked that effort along a party-line vote on March 21.
Still, these moves by federal lawmakers give you a sense of their seriousness here…
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About the Author
Michael A. Robinson is one of the top financial analysts working today. His book "Overdrawn: The Bailout of American Savings" was a prescient look at the anatomy of the nation's S&L crisis, long before the word "bailout" became part of our daily lexicon. He's a Pulitzer Prize-nominated writer and reporter, lauded by the Columbia Journalism Review for his aggressive style. His 30-year track record as a leading tech analyst has garnered him rave reviews, too. Today he is the editor of the monthly tech investing newsletter Nova-X Report as well as Radical Technology Profits, where he covers truly radical technologies – ones that have the power to sweep across the globe and change the very fabric of our lives – and profit opportunities they give rise to. He also explores "what's next" in the tech investing world at Strategic Tech Investor.