The 2018 Farm Bill passes!
After months of anticipation, news broke today that the 2018 Farm Bill has officially been signed by the House and Senate. The final step is for President Trump to sign off on the bill, changing the hemp-derived CBD industry overnight.
So what is the significance of this bill and what does it mean for consumers, businesses, and farmers? Here is a look at how the 2018 Farm Bill will change the industry for the better.
The Historical Evolution of Federal Control
Hemp cultivation has not always been a source of controversy. This hearty plant was once an agricultural staple. Hemp seeds and strong, durable hemp fibers were relied upon for numerous products. Early American settlers used hemp to make building materials, cloth, paper, rope, and canvas. During Colonial times, farmers were required to grow hemp, and several colonies used hemp as legal tender.
Until the enactment of the 1937 Marijuana Tax Act, cannabis plants were legal. It was during the government’s efforts to discourage marijuana use that hemp first became entangled in the crossfire. Some historians believe campaigns to generate public support for curtailing marijuana use intentionally blurred the lines between hemp and marijuana. Some believe hemp was deliberately “demonized” to eliminate hemp as a competing fuel source. While hemp and marijuana were understood to be entirely different plants, hemp farmers were subjected to heavy taxation that made hemp farming unsustainable.