Post date: 11/28/2018

Last Friday, on 9th November 2018, Mitch McConnell has promised to establish a new Farm Bill 2018. The good news is he will likely to mention about the importance of Industrial Hemp in this new farm Bill 2018. The authorities have taken a small break before the new bill is scheduled to pass later this year as Farm Bill 2014 has already expired in the month of September 2018.

Industrial Hemp is quite an important element in the medical industry in the United States. The authority has shown their support towards giving importance to industrial hemp and medical marijuana uses. According to reports, the next Farm Bill of 2018, industrial hemp may get an important place.

As per the spokesperson from the authority, the Farm Bill of 2018 has not been prepared since there are still many disagreements among the officials about the bill. However, Mitch McConnell has been keen to work on the bill as it is his one leading priority at this moment. As of now, no one can say whether the new Bill will be a new one or an extension to the Farm Bill of 2014.

The growing use of industrial hemp and marijuana in the United States’ medical industry is forcing the authority to consider the importance of the cannabis plants. Despite not being legalized by the Federal law, medical marijuana, as well as recreational marijuana, is being legalized in many states individually. Experts are concerned about the draining in of massive black money in the current economy through marijuana selling. The sole reason for that is the absence of marijuana banking solutions.

Some private merchant account providers are working relentlessly to lower down the risk of cash management and heavy cash transactions by providing cannabis payment processing solutions for the dispensaries and other manufacturers. From merchant bank accounts to debit card, credit card, various gift cards – all of the banking provisions are available with these merchant account providers. Some of them are also offering the point of banking for MMJ dispensaries. Now customers can pay through cards to the dispensaries to buy medicines.

Many people who are in support of industrial hemp have been relieved that the clause of legalizing industrial hemp may not be touched by the authority in the bill. According to the McConnell’s words, the officials are not discarding cannabis; instead, they are opting for farm funding through this bill.

 

Reference Link:

  1. https://www.ganjapreneur.com/mitch-mcconnell-guarantees-industrial-hemp-in-farm-bill/
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