NCR Welcome Three New Members to its Organization
The National Cannabis Roundtable (NCR) is a coalition of cannabis companies and service providers that seek to reform the cannabis industry through sensible regulation, social equity, and community reinvestment. On January 30, 2024, the NCR announced the addition of three new members to its organization: Ascend Wellness Holdings, Proper Brands, and Verano. These three companies are leaders in the cannabis sector, with operations in multiple states and a commitment to quality, safety, and innovation. By joining the NCR, they hope to contribute to the collective efforts of the organization to shape the future of the cannabis industry in a positive and responsible way.
NCR’s Advocacy Initiatives and Policy Priorities
The NCR conducts important work to advance sensible and equitable cannabis reform policies at the federal level. Some of the NCR’s advocacy initiatives and policy priorities include:
- Supporting the SAFE Banking Act, which would allow cannabis businesses to access banking and financial services without fear of federal prosecution.
- Supporting the MORE Act, which would decriminalize cannabis at the federal level and expunge the records of those with prior cannabis convictions.
- Supporting the STATES Act, which would respect the rights of states to regulate cannabis as they see fit and protect them from federal interference.
- Supporting the Medical Marijuana Research Act, which would facilitate and expand research on the medical benefits of cannabis.
- Supporting the Cannabis Administration and Opportunity Act, which would regulate and tax cannabis at the federal level and create a grant program for social equity applicants.
- Supporting the Veterans Equal Access Act, which would allow veterans to access medical cannabis through the VA.
- Supporting the Small Business Tax Equity Act, which would allow cannabis businesses to deduct their expenses like any other business.
- Supporting the Cannabis Opportunity Program, which would provide funding and technical assistance to minority-owned cannabis businesses.
- Supporting the Cannabis Justice Office, which would oversee the implementation of cannabis reform and ensure fairness and inclusion in the industry.
NCR’s Challenges and Opportunities in the Evolving Cannabis Landscape
The cannabis industry is facing a dynamic and complex environment, with changing laws, regulations, consumer preferences, and market trends. The NCR is aware of the challenges and opportunities that lie ahead, and is prepared to adapt and respond accordingly. Some of the challenges and opportunities that the NCR is facing are:
- The lack of federal legalization and harmonization, which creates uncertainty and inconsistency for cannabis businesses and consumers across the states
- The emergence of new competitors and entrants, which increases the pressure and competition for market share and customer loyalty
- The need for innovation and differentiation, which requires constant investment and improvement in product quality, variety, and delivery
- The demand for social responsibility and accountability, which requires transparency and compliance in environmental, social, and governance practices
- The potential for growth and expansion, which offers new markets, customers, and partnerships for cannabis businesses and the NCR.
NCR’s Future Plans and Goals for 2024 and Beyond
The NCR is optimistic and ambitious about the future of the cannabis industry and its role in it. The NCR has a vision to nurture the domestic industry, protect consumers, and advance social equity. The NCR has a mission to shape the cannabis industry in a way that reflects its values and principles. The NCR has a strategy to engage with policymakers, collaborate with stakeholders, and drive meaningful change in the federal cannabis policy. The NCR has a goal to achieve the following outcomes by the end of 2024:
- The passage of comprehensive cannabis reform legislation that addresses the issues of banking, taxation, research, veterans access, social justice, and federal regulation
- The establishment of a robust and diverse cannabis industry that creates jobs, generates revenue, and supports communities
- The improvement of public health and safety by ensuring product quality, testing, labeling, and education
- The enhancement of consumer choice and satisfaction by offering a wide range of products, services, and delivery methods
- The promotion of social equity and inclusion by supporting minority-owned businesses, expunging criminal records, and reinvesting in impacted communities
The NCR invites all cannabis businesses and supporters to join its efforts and become part of its network. The NCR believes that together, they can make a difference and create a better future for the cannabis industry and society.