Multiple news outlets report that House and Senate negotiators have come to what they call an "agreement in principle" on the farm bill, finally ending the stalemate over commodity and food stamp policy that threatened to kill the whole thing. More importantly, it has been confirmed that the final bill does include Mitch McConnell’s provision to legalize hemp.
Politico reported this morning that the four Congressional leaders at the forefront of the bill, House and Senate Agriculture Committee Chairmen Mike Conaway (R-Texas) and Pat Roberts (R- Kan.) and Ranking Members Collin Peterson (D-Minn.) and Debbie Stabenow (D-Mich.) stated they were now waiting for the Congressional Budget Office to score the bill.
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“We’re pleased to announce that we’ve reached an agreement in principle on the 2018 farm bill,” the four said in a statement. “We are working to finalize legal and report language as well as CBO scores, but we still have more work to do. We are committed to delivering a new farm bill to America as quickly as possible.”
“We still have more work to do," they continued, saying they were "committed to delivering a new farm bill to America as quickly as possible."
The latest version of the farm bill contains sweeping hemp reform which would legalize the plant for the first time, separating it from cannabis as a controlled substance. The ramifications of the bill would be unprecedented for the CBD industry.
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Still, the bill has further to go before it becomes law. It has to pass both chambers of Congress before the end of the year, before heading to the President’s desk for his signature as well.
More on this story as it unfolds.