Weed in the Land of Lincoln: Legal Cannabis Comes to Illinois Jan. 1
Illinois’ cannabis legalization law is set to go into effect in January and will usher in what proponents hope is the most socially just legalization framework in the nation.
“We’ve spent decades decimating communities and destroying lives with the war on drugs,” said State Representative Kelly Cassidy. “For us it was really more about equity and ensuring that we are repairing harm.”
The state’s law allocates resources to minority communities and areas of the state that have been impacted the most by past crackdowns on marijuana. It also attempts to reduce the barrier to entry for entrepreneurs in hopes Illinois can lead the charge toward a more equitable cannabis industry, by giving them a leg up to compete for 75 licenses the state will begin to issue in May.
“This industry has the potential to be a generational wealth-building opportunity,” said Brian Scruggs, an entrepreneur in the sector.
Yet it remains to be seen if Illinois’ law will allow affected communities to capture a share of the cannabis wealth, and if it can, as Cassidy put it, address the “buffet of problems” associated with marijuana justice.
The U.S. Department of Agriculture is proposing a new rule to narrow what products qualify for a "Product of USA” or “Made in the USA” label. Now only meat, poultry and egg products from animals "born, raised, slaughtered, and processed in the United States" will make the grade.
The Biden administration sued to block JetBlue Airways' $3.8 billion purchase of Spirit Airlines, saying Tuesday that the deal would reduce competition and drive up air fares for consumers.
Federal Reserve Chair Jerome Powell will hint that the central bank could increase the pace of interest rate hikes if data indicate price pressures continuing.
