Farm Bill Compromise Would Legalize Hemp, Keeps SNAP

A compromise has been reached in the 2018 Farm Bill. One of the points in the bill that has caught the attention of many is the one that would legalize industrial hemp. Legalizing hemp would effectively open up the CBD market, welcoming in new billionaires. New details have emerged from the bill, one of which will make supporters of the SNAP program happy. 

Per NPR 

Lawmakers unveiled the much-anticipated farm bill compromise Monday night, ending the months-long impasse over whether a critical piece of legislation that provides subsidies to farmers and helps needy Americans buy groceries could pass before the lame duck session concludes at the end of the year.

The agreement was reached after a proposal – backed by House Republicans and President Trump — to add stricter work requirements for those who receive food stamps was taken off the table.

The behemoth piece of legislation will cost $867 billion over 10 years, according to House committee staffers.

Of course it’s not law just yet.

The bill must still pass both the House and the Senate and be signed into law by the president, which could come as early as this week.

While much of the farm bill compromise mirrors current law, there is a major change coming for farmers: industrial hemp will be legalized. It’s a boon for the increasingly popular CBD oil industry, which is being used for medicinal purposes.

Changes to the SNAP program was part of the hold up that kept the bill stuck in limbo this summer. The final compromise does include some SNAP anti-fraud measures, the comprimise overall is seen largely sas a win for House Democrats.