The CARES Act Doesn’t Care for Cannabis
When President Donald Trump signed the $2.2 trillion CARES Act on March 27, 2020, in response to the coronavirus pandemic, a multi-billion-dollar industry was left out in the cold.
With recreational marijuana legalized in 11 states and medicinal cannabis permitted in another 33, the cannabis industry is a bustling enterprise both in the United States and globally. In 2019, Barclay’s released a report estimating that if legalized today, the marijuana industry would generate $28 billion in pre-tax dollars and $41 billion by 2028.
And that’s just pot.
