Why Was Hemp Included In The Defense Production Act? And What Does It Mean For The Future Of Cannabis Production?
For dealing with the Coronavirus pandemic, advisors to President Donald Trump are advising him to invoke the Defense Production Act of 1950. In addition to all other benefits, it is important to understand that the DPA lists hemp as a “food resource” that is critical to national security in a time such as this. Due to this, the full CBD supply chain should fall under crucial infrastructure designation. While the FDA does not have any specific rules in place, but it looks as if the DPA does.
It appears that the authority of the Defense Production Act would overrule the authority of the FDA. Therefore, hemp in all its forms would be considered a “food resource” necessary for national security during a national emergency.
The significance of a president invoking the Defense Production Act means that the war is on and all the resources of the country will be directed towards fighting it. The DPA allows the Secretary of Agriculture to grant authority for banks to give loans for hemp since it is considered to be “food resources”. At this point, the hemp and CBD industries require support from the federal government to get through this time. It will definitely help if the FDA allows CBD to be sold as a food additive and a supplement. It would also be nice if the IRS allows CBD to be bought with funds from Health Savings Accounts.
Read Full Article: https://www.benzinga.com
CBD is one of many powerful cannabinoids found in hemp known for helping to support our body and mind. Here at Healing Dragon CBD we do not intend to make unfounded medical claims about the health benefits of CBD. The FDA has not confirmed that CBD cures, treats, or prevents any diseases or conditions. Before reading this article please take a moment to read our full disclosure statement.