Hemp Beverage Alliance in Newsweek
Newsweek assessed last week’s Senate CR vote and included HBA in their analysis:
Hemp farmers and businesses that manufacture hemp-derived tetrahydrocannabinol (THC) products emerged as beneficiaries of the Senate funding bill. The measure delays a planned federal crackdown on certain hemp-derived THC products until December. Industry groups had warned that the restrictions could hurt producers and retailers and applauded the temporary delay. Hemp is a type of cannabis plant with a lower content of THC.
The legislation pushes the November 12 expiration of what is called the “hemp loophole” created by the 2018 Farm Bill. The law legalized hemp containing less than 0.3 percent delta-9 THC, helping create a rapidly growing market for hemp-derived intoxicating products. Christopher Lackner, president and CEO of the Hemp Beverage Alliance, has said the industry is estimated to be valued at about $29 billion and employs thousands, which would be at risk if the prohibition took effect.
