News
Illinois hemp growers say federal hemp ban delivers shock to CBD industry
A pair of Illinois hemp growers say the federal government’s move to redefine hemp and outlaw beneficial products like CBD is a shock.
Stacy McCaskill, founder of Hempstock Pharms in northeastern Illinois, tells Brownfield that President Trump’s September social media post touting the benefits of CBD was a high point for the industry.
“It said that if more people use CBD, they anticipated a $65 billion annual savings to healthcare costs,” she says.
AUDIO: Stacy McCaskill – Hempstock Pharms
Mason Lopez, who owns Sun Drenched Farm in northwestern Illinois, says it’s a disheartening turnaround.
“It was a glimmer of hope if we have the President promoting it.” He says, “I was pretty optimistic about that. Now, it definitely does feel like a bit of whiplash to be going the complete opposite way.”
The funding bill signed into law Wednesday closes a loophole in the 2018 Farm Bill and sets strict THC limits for any hemp-derived product.
Lopez says, “It’s rough to deal with because my family is part owners in the company.” He says, “They helped me get started. It’s been 100% grass roots, you know. Now the rug is being pulled. I thought we’d always have a leg to stand on as far as CBD products, and now that’s obviously not the case.”
According to the U.S. Hemp Roundtable, around 95% of U.S. hemp businesses will be impacted by the ban, and it’ll result in the loss of an estimated $1.5 billion in tax revenue. It’s set to go into effect in November of next year.
AUDIO: Mason Lopez – Sun Drenched Farms
That STUPID.. no ban bec thc and cbd help lot of peoples who has problem with ptsd and cancers and other disease. If stop and all of us will get suffer n struggle with pain 😪 please stop the ban n let it go naturally and stay without Ban.. True president and other lied to peoples. Why approved first place now ban.. that BS!!!!! They play with our excited n excepted now go down n disappoint