Out Of Touch Or On A Mission? Patrick's Anti-THC Rant
Patrick spoke to a room full of reporters about the bill's intent to protect the overall health of Texans, particularly for minors in the Lone Star State, by cutting all access to THC products that have continued to grow in popularity since the state-wide legalization of hemp in 2019.
On a city-wide level, as previously covered by The Dallas Express, Dallas voters passed Proposition R in November of last year, making possession of under 4 ounces of marijuana the 'lowest priority' for local law enforcement.
However, both efforts have continued to receive pushback from Patrick and other leaders like Attorney General Ken Paxton.
Paxton's office has even sued a handful of municipalities for approving the relaxed laws on marijuana enforcement.
'This unconstitutional action by municipalities demonstrates why Texas must have a law to 'follow the law.' It's quite simple: the legislature passes every law after a full debate on the issues, and we don't allow cities the ability to create anarchy by picking and choosing the laws they enforce,' Paxton said in a press release published last year.
SB 3, which has passed both legislative chambers, now seeks to ban all forms of THC, including Delta-8 and Delta-9 variants, currently sold regularly in gas stations and 'smoke shops,' while exempting 'non-intoxicating' cannabinoids like CBD and CBG.
However, some details surrounding the bill seem to remain a bit cloudy.
The bill will also allegedly allow for the state to maintain and continue running its Compassionate Use Medical Marijuana Program, allowing limited medical use of low-THC cannabis products. However, Patrick has not yet clarified if the bill will impact the application process for the program.
Critics argue that the ban could have significant economic repercussions, as previously reported by The Dallas Express, potentially dismantling Texas's $8 billion hemp industry and cutting off nearly 50,000 jobs.
'If this ban is passed, it would criminalize both consumers as well as sellers/distributors. Businesses in Texas would have to stop selling these products altogether, which would likely result in a lot of businesses closing up shop altogether,' Ben Michael, an attorney at Michael & Associates, previously told DX.
'This would also likely mean that larger companies based in other states would be limited with where or who they could sell to, leading to potential legal battles. Consumers in Texas could also face fines or charges for buying these products, even if they are for medical purposes, because it seems as though the ban essentially has no exceptions,' Michael added.
Yet, Patrick seems deadset on pushing the ban forward.
'We cannot in good conscience leave Austin without banning THC, which is harming our children, and destroying Texans' lives and families,' The Texas Lieutenant General declared via X.
Governor Greg Abbott has yet to say whether he will sign SB 3 into law. If enacted, the ban will take effect in September of this year.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
18 hours ago
- Yahoo
Jeffries breaks McCarthy's House floor speech record in bid to delay GOP megabill vote
As April got underway, Sen. Cory Booker did something no senator had ever done before: The New Jersey Democrat stood on the chamber's floor for roughly 25 consecutive hours and made a spirited case against Donald Trump's far-right agenda. The previous record was set in 1957, when then-Sen. Strom Thurmond of South Carolina held the floor for over 24 hours to condemn the Civil Rights Act of 1957. But on April 1, Booker relegated the segregationist to second place in the history books. Three months later, as July gets underway, House Minority Leader Hakeem Jeffries didn't manage to speak for 25 hours, but the New York Democrat, like Booker, broke his own institution's record. As of 1:30 p.m. ET on Thursday, Jeffries was continuing to deliver remarks after speaking for more than eight hours and 35 minutes. During congressional debates, the vast majority of members are only allowed to deliver brief, minute-long remarks. But three members — the House speaker, majority leader and minority leader — can exploit what are known as 'magic minutes,' allowing them to speak as long as they wish. In 2018, for example, Democratic Rep. Nancy Pelosi of California, the House minority leader at the time, stood on the House floor for over eight hours, seeking a vote on protections for Dreamers. It broke the institution's record for the longest speech ever delivered on the House floor. Three years later, then-Republican Rep. Kevin McCarthy of California broke Pelosi's record, holding the floor to condemn the Democrats' Build Back Better legislation. Now, it's Jeffries, who made a devastating case against the inaptly named One Big Beautiful Bill Act, who holds the top slot. The New York Democrat began his remarks just before 5 a.m. ET, though if he intended to break the House record, Jeffries and his office kept this plan to themselves. As NBC News noted, the House minority leader used the opportunity to reference a series of binders as he read notes from Americans who would be harmed by Medicaid and SNAP benefit cuts. 'What is contemplated in this one big, ugly bill is wrong. It's dangerous, and it's cruel, and cruelty should not be either the objective or the outcome of legislation that we consider here in the United States House of Representatives,' Jeffries argued. The Democratic leader might not have changed any GOP minds, but his record-breaking presentation brought some much-needed attention to the case against the most regressive legislative package in at least a generation. This is a developing story. Check back for updates. This article was originally published on
CNBC
21 hours ago
- CNBC
Using options to trade this undervalued airline stock around earnings
The S & P 500 is trading back at record highs, marking one of the sharpest comebacks in history, with the benchmark soaring more than 25% from its April 8 post- "liberation day" lows. For context, I've indicated the most recent period with a yellow arrow in a distribution of SPX returns since 1927. But the rising market has not helped all constituents return to their prior highs. For example, Delta Air Lines , which reports its quarterly earnings results next week, is still more than 25% below the February highs. Has the underperformance off the April lows led Delta to be underpriced? Certainly, the PE relative to the broad market has fallen and is now at the lower end of the two-year range. Why have airlines underperformed during the rebound? Some investors suspect that airline capacity is growing faster than demand. Most U.S. carriers' capacity is expected to outpace GDP growth through the end of the year, which could increase competition for customers and pressure fares. United, Delta and American have been particularly aggressive in adding domestic seats, their largest market, which may negatively affect premium pricing. Fuel costs, one of the most significant expenses for airlines, have fallen recently. Fuel costs are expected to decrease to approximately $2.30 per gallon, potentially increasing operating profit by over 1%. However, rising wages may partially offset this, as labor expenses are forecast to increase by 7% year over year, which may more than offset lower fuel costs. The cost per available seat mile, excluding fuel, could rise by 2.7% to $13.50. The trade The options market is implying a move of more than 7% earnings-related after they report next week, and a $6 move — or around 12% — over the four following weeks ending Aug. 8. I'm inclined to take advantage of the recent underperformance to make a modestly bullish bet with a three-legged calendar spread as follows: Sell 1 Aug. 15 $55 call Buy 1 Dec. 19 $55 call Sell 1 Aug. 15 $45 put DISCLOSURES: None. All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.
The Hill
a day ago
- The Hill
Nevada Democrat says Trump megabill could push gamblers ‘into the black market'
Democratic Rep. Dina Titus (Nev.) said on Wednesday that the GOP megabill backed by President Trump will have an adverse impact on gamblers due to its tax provisions. The big, beautiful bill text would strike previous deductibles by 10 percent, according to the senate passed version. The 90 percent deduction cap would require someone who wins $100,000 and loses $100,000 to pay $10,000 in taxes, despite their profit loss. 'It pushes people into the black market if they don't do regulated gaming because they have a tax disadvantage, and the black market doesn't pay taxes, isn't regulated, doesn't help with problem gaming, so it's bad for the industry as well as for the player,' Titus said during a Wednesday appearance on NewsNation's 'The Hill.' The Nevada lawmaker said the House approved GOP legislation was 'bad enough for my constituents.' She said the newly added language 'adds insult to injury' in a bill that would strike health care provisions, Pell grants and renewable energy measures. 'There's still a bias against gaming. And we found it and thought, well, this is not good for people who enjoy coming to Las Vegas to gamble. We're not talking about only professional poker players,' Titus said. 'We're talking about, you know, the average people who want to play a game of poker or pull a slot machine handle.' Titus said all would be impacted. Professional poker player Phil Galfond echoed her concerns. 'This is really bad. Whether you're a poker player, [Daily fantasy sports] player, a sports better, any kind of gambler – professional or recreational – but especially professional. And even if you are an operator in one of these areas. It's quite scary,' Galfond said in a Tuesday video on X. 'Completely untenable. You can't be a professional gambler in the U.S. if this goes through. And that will have a ripple effect on industries that depend on professionals,' he added. Professional player Doug Polk urged Rep. Chip Roy (R-Texas) to strike the clause from the bill. 'Chip, I am in your district. There is a provision in the Senate version that will kill professional gambling. This will negatively impact THOUSANDS of Texans,' Polk wrote in a Tuesday post on X. 'Please look at this and help remove this senseless provision.' Titus said she's going to try to get it taken out and added that if it doesn't go back to the House Rules Committee for review, she'll introduce a separate bill to address the revision.
