long term – Remedii http://remedii.net/ Wed, 02 Mar 2022 14:00:23 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://remedii.net/wp-content/uploads/2021/06/icon-2-150x150.png long term – Remedii http://remedii.net/ 32 32 Here are the 3 best things to do with your tax refund https://remedii.net/here-are-the-3-best-things-to-do-with-your-tax-refund/ Wed, 02 Mar 2022 14:00:23 +0000 https://remedii.net/here-are-the-3-best-things-to-do-with-your-tax-refund/ Image source: Getty Images Be sure to use your tax refund wisely. Key points Many Americans will receive a large tax refund this year. This lump sum payment represents a great opportunity to improve your finances. Paying off debt, building an emergency fund, and investing are some smart ways to use your tax refund. Many […]]]>

Image source: Getty Images

Be sure to use your tax refund wisely.


Key points

  • Many Americans will receive a large tax refund this year.
  • This lump sum payment represents a great opportunity to improve your finances.
  • Paying off debt, building an emergency fund, and investing are some smart ways to use your tax refund.

Many Americans get thousands of dollars back from the IRS after filing their tax returns. The lump sum payment that results from a tax refund presents a great opportunity. Rather than spending the money on purchases that won’t pay off, you can use the funds to improve your long-term financial situation.

While there are plenty of ways to put your refunded tax money to good use, here are three of the best things to do with the money the IRS sends you.

1. Pay off the debt

If you have high-interest debt, such as credit cards or payday loans, you can use your tax refund to pay off as much of your debt as possible.

By making a large payment, you can reduce your principal balance. This will reduce the interest you pay over time and bring you closer to permanent debt relief.

2. Boost your emergency fund

An emergency fund helps you avoid financial disaster if you face unexpected expenses or loss of income. When you have money set aside for emergencies, you have a financial cushion so you don’t have to borrow if you face an unexpected cost that you didn’t budget for. If you lose your job, get big medical bills, or can’t work due to illness, you can use the money you’ve saved to cover bills so you don’t face foreclosure, repossession or other serious consequences.

Unfortunately, many people have too little savings for emergencies. The standard recommendation is to have three to six months of living expenses set aside, but it’s common for people to have much less – or even nothing at all.

A large tax refund allows you to create an emergency fund or increase yours if it is too small. By being better prepared for unpleasant surprises, you will have a calmer mind and a more secure future.

3. Invest for the future

If you don’t have high-interest debt and your emergency fund is fully funded, investing for long-term financial goals can be a great use of your tax refund.

You can do this in different ways. If you’re saving for a major purchase, such as a down payment on a house, you can deposit the money paid back directly into your savings account. You can also contribute to a tax-efficient retirement plan, such as an IRA with a brokerage firm.

By investing for retirement in a plan with tax relief, you can actually reduce next year’s tax bill with this year’s refund.

Which option is right for you?

Ultimately, the best place to put your tax refund will depend on your current financial situation.

The important thing is to figure out how you can leverage that money to grow your net worth in the best possible way, based on what you currently owe and your current and long-term financial goals.

You can’t go wrong with any of these three suggestions, so think about which one will have the most impact so that your refund can benefit you for a long time.

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After legalization, the cannabis industry loses its luster https://remedii.net/after-legalization-the-cannabis-industry-loses-its-luster/ Sat, 26 Feb 2022 00:00:25 +0000 https://remedii.net/after-legalization-the-cannabis-industry-loses-its-luster/ Nevada County cannabis legalization advocate Wade Laughter stands on his nearly two-acre property off Idaho Maryland Road in rural Grass Valley. His property is too small for a cannabis farm, according to regulations set by the county. The post-legalization reality for Nevada County cannabis growers is not what Laughter fought for.Elias Funez/efunez@theunion.com The legalization of […]]]>

Nevada County cannabis legalization advocate Wade Laughter stands on his nearly two-acre property off Idaho Maryland Road in rural Grass Valley. His property is too small for a cannabis farm, according to regulations set by the county. The post-legalization reality for Nevada County cannabis growers is not what Laughter fought for.
Elias Funez/efunez@theunion.com

The legalization of pot has changed the Californian landscape, literally and figuratively.

The profit margin between growing cannabis and the licensing process has narrowed markedly since Proposition 64 was passed in 2016, according to long-term legalization advocates in Nevada County.

Diana Gamzon, executive director of the Nevada County Cannabis Alliance, estimated the total cost of permits for a farm she worked with last year at $50,000.



Wade Laughter, a longtime medical cannabis advocate, said that for some, the price to pay to become legal after all farm infrastructure is up to code could approach $250,000.

“Everything must be permitted,” Laughter said. “All buildings – the greenhouse must have a permit, the road must have a permit – everything must comply with fire safety standards.”



Laughter, who grows CBD-dominant strains, said his advocacy was never rooted in profit, but the falling cost of flowers combined with bureaucratic hurdles to “go legit” aren’t viable for the average farmer. .

“There are all these requirements that have nothing to do with a garden,” Laughter said. “A cannabis farm is a commercial enterprise, like a gas station or a Walmart.”

Laughter said it’s been frustrating to see the industry become hostile to small entrepreneurs because of the altruistic intent that fuels his own calling – connecting those in need to plant medicine.

“All of my work was donation-based,” Laughter said of his time connecting patients with peripheral neuropathy and varying degrees of autism to cannabis through the Caladrius Network. “Most of the cannabis grown on my farm has been made into tinctures, edibles or suppositories and given away for free. It seems unfair to me to put a price tag on most people determined enough to find me and ask for my help. The medical system had already taken their money.

A greenhouse and outdoor agricultural area were deemed unsuitable for growing cannabis on Wade Laughter’s property due to the narrow size of the property, among other reasons.
Elias Funez/efunez@theunion.com

Laughter has already taken his advocacy to Sacramento, speaking in particular with and on behalf of Forrest Hurd who said locally grown CBD eased the symptoms of his son’s incurable epilepsy, caused by Lennox-Gestault Syndrome.

“There are a whole range of conditions that cannabis seems to help,” Laughter said. “I say it like that because I don’t like to state things, but I have, over the years, seen dramatic improvements when we find the chemistry that works for someone’s individual needs.”

Even with the high cost of legalization, Laughter said that as an advocate for the plant‘s medicinal benefits — especially to the terminally ill — he would apply for a permit if the physical parameters of his farm did not immediately disqualify his property.

Laughter said he consulted with lawyers to maintain his legal status amid rapidly changing legislation — enactment and enforcement — between 2016 and 2018, while cultivating and distributing strains of CBD for free.

Even after three of Nevada County’s five current supervisors — Heidi Hall, Ed Scofield and Sue Hoeck — visited Laughter’s property off Idaho-Maryland Road, the attorney’s property was automatically disqualified from a cannabis business license because the land falls within Zoning Res-Ag.

“It’s not because (the industry) is dangerous or filled with criminal activity,” Laughter said. “That’s because some neighborhoods with the Res Ag zoning have been strongly opposed. Politics is a matter of finding compromises.

Laughter’s property is also not large enough to qualify for cash cropping, he said, so even if Laughter lived elsewhere on such a narrow plot – “my property doesn’t quite measure 200 feet wide” – it does not meet the 2 acre minimum.

CHANGING INDUSTRY

According to Nevada County Chief Financial Officer Martin Polt, the county spent “a lot of money” over three to five years to advance licensed cultivation efforts in Nevada County.

Polt said the county has invested “significant dollars” to develop the licensing program, including staff dedicated to planning and building aspects of the legalization process, as well as cannabis compliance units.

Polt said he couldn’t determine the total amount invested in developing the program, citing complexities between overlapping and separate responsibilities for cannabis code enforcement and the county’s planning department.

Beyond that, Polt said, Grass Valley and Nevada City are responsible for cultivation and distribution permits and procedures in their respective municipalities.

“Nevada City uses our planning and services department, but they reimburse us,” Polt said. “The infrastructure is somewhat different for each of the jurisdictions.”

Polt said the county provides some infrastructural support, but each jurisdiction must develop its own regulations and ordinances.

Barry Anderson, a management analyst with the Nevada County Executive Office, said $1.9 million is the cost to the county so far for legal operations.

“The County General Fund has invested $1.9 million, beginning in fiscal year 2018/19 through the current fiscal year, to set up the Cannabis Compliance Division,” Anderson said. “This does not include the costs associated with measuring tax revenue.”

“I’m not saying we’re going to recoup the costs,” Polt said. “We haven’t caught up by any means…. It’s more than a drop in a bucket.“

Polt said it’s difficult to identify concrete costs to public agencies engaged in local legalization because the cannabis industry engages different county resource areas that provide support and monitor the industry.

Wade Laughter’s four-acre property is too small to grow cannabis, according to rules set by Nevada county officials.
Elias Funez/efunez@theunion.com

Josh Merriman of County Cannabis Compliance said the county began issuing permits and collecting fees in 2019 when the program began.

Merriman said the fees attached to permits exclusively pay for staff time.

“There are no official fees outside of time,” Merriman said. “Staff time is billed by the hour.”

Nevada County has one of the lowest — if not the lowest — fees for obtaining an administrative development permit for up to 10,000 square feet of cannabis, Merriman said. Smaller sites applying for commercial cannabis licenses have a “faster turnaround time.”

After investigating similar processes in Yolo County, Merriman said he discovered the agency was charging $40,000 for the permit with an annual fee of $9,000.

“Our annual dues are $900,” Merriman said.

Laughter said a Nevada County farmer seeking legitimacy would pay less than growers in other counties because the latter must pay for the county permit and the state license separately.

“Once you get a permit, you have to get a license from the state,” Laughter said. “It’s a whole different level of difficulty.”

Nevada County supervisors conducted a countywide environmental impact report in 2018, Merriman said, which gave way to an order offering umbrella state license eligibility for permit recipients. .

“Other jurisdictions require a conditional use permit,” Merriman said, adding that site-specific analysis required with the permit application is typically time-consuming and expensive. “We did a county-wide EIR, so we have a streamlined cookie-cutter order.”

Laughter noted that a farmer in Mendocino trying to legalize his business would pay thousands of dollars more than a grower in Santa Barbara, one of the few other counties with a similar inclusive ordinance.

“Look with the Idaho-Maryland mine,” Laughter said, referring to the lengthy process it took for Rise Grass Valley to reopen gold mining operations on two properties zoned for light industry. “Imagine if every farm had to do this.”

A Nevada County grand jury report released in May 2021 estimated that there were between 3,500 and 4,000 “illegal crops” in operation.

According to Merriman, administrators have received 239 license applications to date. One hundred and fifty-five have been approved so far, Merriman said, and the rest remain in various stages of review.

“If you don’t have a permit and license, you can’t operate,” Laughter said. “That’s why Nevada County is seeing an explosion here – you can legally operate in the cannabis market.”

Rebecca O’Neil is a staff writer for The Union. She can be reached at roneil@theunion.com

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10 Common Reasons People Use Payday Loans | Ask the Experts https://remedii.net/10-common-reasons-people-use-payday-loans-ask-the-experts/ Fri, 25 Feb 2022 01:52:00 +0000 https://remedii.net/10-common-reasons-people-use-payday-loans-ask-the-experts/ Struggling to fund an emergency? What should you do if you need money right now? First of all, assess the situation and do not make hasty decisions. Payday loans play a good role here to help you pay off your debt and spend the necessary amount of money for emergency expenses. We recommend the option […]]]>

Struggling to fund an emergency? What should you do if you need money right now? First of all, assess the situation and do not make hasty decisions. Payday loans play a good role here to help you pay off your debt and spend the necessary amount of money for emergency expenses.

We recommend the option of taking out a payday loan DirectLoanTransfer if you have a short-term disruption to your finances. Thus, you can repay your debt in just one to two months and calmly continue to pay your loans on time.

More often than not, we find ourselves in a financial bind. Suppose you spread yourself too thin and exhaust your borrowing options. Now what? Let’s take a look at 10 good reasons why people take payday loans.

Reasons to get a payday loan

1. When you can’t afford major purchases

A client took out payday loans to buy new appliances, a cell phone, a fur coat for his wife, a car and winter tires. He was able to finance all of these purchases with payday loans while saving money to pay for his personal needs and necessities, such as food, gas, and clothing.

2. To avoid empty pockets

Over the past 15 years, a customer has taken out about 10 loans to buy a camera, two tablets, two phones, and new furniture. Taking out payday loans allowed her to buy what she needed and still have money in her pocket. These were well-calculated decisions that helped the client get the necessities without spending all her money.

3. Out of madness

A customer broke his phone. Unfortunately, he had no savings, so he took out a loan. Therefore, the customer filled out a request directly in the store, but only one bank responded. The fees and interest rates on this bank loan were thousands of dollars more than the original amount he had borrowed. After this realization, he decided to look into payday loans instead. The client received money instantly and didn’t have to worry about trailing payments that accrue interest. With payday loans, he got his phone and paid off the debt in just one month – easy and hassle-free!

4. If there is not enough will to accumulate

Let’s say you took out two payday loans, the first for remote programming lessons and the second for a digital piano. One has already been paid, the other is being paid. There is not enough will to save on such acquisitions. Each time, think carefully about the need to apply for a payday loan. Consult specialists from different banks and don’t forget to consider different payday loan offers. Due to this, thanks to the training, you will receive attractive offers of personal loans from the management, and the piano will become a source of additional income.

5. To raise the standard of living

A payday loan is a great opportunity to get an item at a discount. You can close the debt on the first payment, saving a little. Credit cards help you get certain things without overpaying but a little earlier. Payday loans will help you raise the bar on quality of life. It is not because there are things that are borrowed. Indeed, you will start thinking in slightly different numbers with a payday loan.

6. Live until the next paycheck

Payday loans can help solve urgent and unexpected financial difficulties, but sometimes high rates and overpayments can create long-term problems in a family’s budget. Now we have to work for the loans. All the money is divided into two categories: repayment of the loan and somehow stretching the salary.

7. In order not to constrain oneself in desires

Payday loans can be taken on a whim. For example, if you suddenly wanted to renew your fleet of vehicles and it was uncomfortable to withdraw the full amount of traffic and savings, even if formally there was such an opportunity. You took about a few thousand dollars for six months for an iPhone. You can afford to take out a payday loan. You could take it for a wedding so as not to be afraid of desires, which is about 700,000 for three years.

A personal loan is a practical tool if it is not coerced. If credit money helps accelerate the rate of capital growth or get the feeling now and pay it back later, then that’s a good reason to agree to take out a payday loan.

8. In order not to choose what to buy

When repairing an apartment, money is needed for plastic windows or TV. Suppose you need to borrow several thousand dollars for a television. Let’s say it would be a shame if you gave more than five thousand a month, but the way of life will not change. It is likely that you will not regret having taken out a personal loan. Nevertheless, in the future, think about how you could save in advance.

9. To spend money on the most important

Suppose you have taken out many small loans that could amount to hundreds of dollars. You close one and immediately organize the next, for example for studies, treatment, travel, expensive furniture or equipment. In general, for whatever is most important. Additionally, you can use a credit card with a limit of a few thousand. Loans are always closed ahead of schedule in two or three months while spending money on useful and necessary things that you could not save for in any way and not on momentary pleasures like a bottle of expensive alcohol or unnecessary clothes.

10. When there are no other options

Let’s say the roof of your house was in a terrible state. Suppose an urgent repair is needed, but it would be impossible to save such an amount even if the whole family saved the entire salary. Then a payday loan is a very good option.

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Redwood City shouldn’t keep pot shop applications a secret; a journalist is also expelled from the Stanford mall and why does the United States participate in the Beijing Olympics? – Palo Alto Daily Post https://remedii.net/redwood-city-shouldnt-keep-pot-shop-applications-a-secret-a-journalist-is-also-expelled-from-the-stanford-mall-and-why-does-the-united-states-participate-in-the-beijing-olympics-palo-al/ Sat, 12 Feb 2022 09:21:03 +0000 https://remedii.net/redwood-city-shouldnt-keep-pot-shop-applications-a-secret-a-journalist-is-also-expelled-from-the-stanford-mall-and-why-does-the-united-states-participate-in-the-beijing-olympics-palo-al/ This was originally published on January 24 in the Daily Post. OPINION BY DAVE PRICEDaily Post Editor Why are Redwood City officials keeping secret where cannabis companies want to open stores? The town hall received 26 applications. The city’s complex, multi-phase selection process is taking place behind closed doors. Applications are hidden from the public. […]]]>

This was originally published on January 24 in the Daily Post.

OPINION

BY DAVE PRICE
Daily Post Editor

Why are Redwood City officials keeping secret where cannabis companies want to open stores?

The town hall received 26 applications. The city’s complex, multi-phase selection process is taking place behind closed doors. Applications are hidden from the public.

What is the City Council and City Manager Melissa Stevenson Diaz trying to hide from the public?

Probably the addresses of these stores. Sure, a majority of residents voted to legalize marijuana in 2016, but that doesn’t mean they want a store in their neighborhood. Who wants crime? And who thinks a cannabis store belongs in a place with lots of kids?

Last week, we reported that Douglas Ledingham, a resident of Redwood City, discovered that cannabis chain Air Supply wanted to move into the abandoned Any Mountain store at 928 Whipple Ave.

Ledingham had no idea his neighborhood was getting such a store until he spoke to workers who were cleaning up the building after the squatters moved out.

This process of keeping locations secret until licenses are announced is the opposite of how the state grants liquor licenses.

Liquor license applications are always public records. In fact, the state Department of Liquor Control requires applicants to post a “public notice of application” on premises for 30 days. Additionally, ABC may require applicants to send a notice to anyone living within 500 feet of the store or restaurant and publish a notice in the newspaper.

ABC allows the public to object before a liquor license is final.

The public should know where a cannabis store is located before the license is final.

Why the city is taking this approach is a puzzle. That’s not the only weird thing about the city process. As I mentioned earlier this month, cannabis companies with issues in other cities score high marks in Redwood City’s preliminary scoring system.

One of them, TAT, is accused by a competitor of falsely claiming that a local resident would co-own his store in Fresno to earn a higher score in that city’s ranking process. Another Redwood City candidate, Cookies, has come under fire from planning officials in San Diego for using a mascot that resembles Sesame Street’s Cookie Monster, raising concerns that children could be targeted by a Joe strategy. Camel.

By withholding proposed store locations, Stevenson Diaz is simply asking for more trouble.

She should remember that this process could go awry in unpredictable ways, like what happened in Mountain View in 2019.

After a lengthy application screening process, Mountain View was ready to award licenses to two cannabis retailers when a group of largely Chinese parents came out of nowhere to fight the city’s plans. At a council meeting on May 23, 2019, dozens of parents spoke out fervently against marijuana, saying the stores would tempt children to try drugs and weaken their ability to have a healthy mind. The council voted to drop the idea of ​​allowing cannabis stores.

•••

Stanford priorities

A Post reporter covering the two bag snatching at the Stanford mall on Jan. 18 was told by mall management to leave or face arrest for trespassing.

Yes, trespassing in a public place.

The journalist, who had already interviewed witnesses and taken photos, granted the request.

The episode makes me wonder about Stanford’s priorities. The company that runs the Stanford mall under a long-term contract, Simon Properties, had no mall cop near the purse theft. And he ran away.

But when a reporter started asking questions, the mall cop was quick to intervene. Is Simon Properties’ priority to protect customers from criminals or to protect the mall from journalists?

I doubt that Stanford’s board members involve themselves in the day-to-day running of the mall. But I wonder if they realize the irony of the situation. At one end of campus, their contractor, Simon Properties, threatens to have a journalist arrested by the police for simply doing his job. At the other end of campus, they have a communications school where they teach journalists how to do their jobs.

•••

olympic error

Why is the United States participating in the Beijing Olympics given China’s horrifying human rights record? It is too late to withdraw from the Games next month, but the United States should tell the International Olympic Committee that this is the last time we will participate in an Olympic Games held in a totalitarian country.

In March, the US State Department said China was committing “genocide and crimes against humanity” in detention camps housing 1 million Muslim Uyghurs. They are subjected to forced sterilization, rape, torture, forced labor and “draconian restrictions” on their freedom of religion, expression and movement, according to the State Department.

We shouldn’t be in a country that does this. The Biden administration’s “diplomatic boycott,” in which the United States does not send bureaucrats to Beijing for the games, appears to be a half-hearted, honeyed reaction.

In the future, we should tell the IOC that if they go back to China, Russia or a similar country, the United States will not participate.

A better solution would be to set up permanent sites for all future games. Host cities often lose money building Olympic venues. Let’s solve this problem at the same time as we defend human rights. Make Athens the permanent home of the Summer Games and locate the Winter Games in Switzerland, Norway or Canada, countries where there are no problems with human rights.

Editor Dave Price’s column appears on Mondays. His email address is price@padailypost.com.

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Stop the Debt Trap When Using Payday Loans https://remedii.net/stop-the-debt-trap-when-using-payday-loans/ Sun, 06 Feb 2022 01:34:36 +0000 https://remedii.net/stop-the-debt-trap-when-using-payday-loans/ Payday loans are one of the easiest loans to get, but they’re also manipulative. In case of urgent need for money, there is no doubt that you will be able to obtain a loan quickly. However, if you are not careful, you may find yourself trapped in an endless cycle of debt. Your debt term […]]]>

Payday loans are one of the easiest loans to get, but they’re also manipulative. In case of urgent need for money, there is no doubt that you will be able to obtain a loan quickly. However, if you are not careful, you may find yourself trapped in an endless cycle of debt. Your debt term will last much longer due to the huge interest rate you will pay on your loan. You can also continue a particular loan more than once to avoid a repayment burden.

Quick access, on the other hand, is an expensive habit, and the amount you use to repay these loans will keep you from regaining your footing.

If you fail to arrange for a payday loan, your credit score could be affected and it will then be very difficult for you to apply for a loan in the future.

In the event that you are locked into a cycle of high debt, there are alternatives available that can prevent you from being trapped in the cycle of debt. Acting quickly can help you reduce your expenses and get better and more attractive financing terms.

Can borrowers avoid the debt trap when using payday loans?

It’s hard, but not impossible.

We have come up with ways you can simply stop the debt trap when using a payday loan.

1. Establish a contingency fund for unexpected expenses:

Until you accumulate assets, put in place a good investment strategy to meet your emergency fund needs.

There are several investment options available to you, such as insurance plans, etc., which can help you in an emergency and save you from having to take out this loan.

2. Reduce expenses:

There are times when you will have no choice but to apply for a payday loan due to an unforeseen emergency, and that’s understandable; nevertheless, if you develop a practice of frequently taking out payday loans to satisfy your unreasonable needs, your budgeting will require considerable attention. Be conservative with your budget, cut the budget and only buy what you really need.

3. Make a long-term plan:

Set up emergency savings and contribute to them on a consistent schedule. You must take inflation into account and be absolutely sure that your funds will be sufficient to cover future needs. Improve your credit score to qualify for cheaper loans from lending institutions. This will surely reduce the possible need for payday loans in the future.

4. Request a loan from a new lender:

If your payday loan is piling up and you still don’t want to be trapped in the same cycle of debt, you can apply for a loan from a new lender other than payday lenders. To obtain a private loan, you can contact various official lenders in your vicinity.

You can also choose to consolidate your debts. You can also apply for a loan from another lender to settle your payday loan.

If your credit score is one of the things that bothers you, you can ask a friend or family member to take out the loan on your behalf. People close to you who also have a great credit history may be able to help you get a loan to pay off your payday loan and end the debt trap.

5. Consult your payday loan institution

Those who give out payday loans will always want to get a refund. Therefore, if you let the payday lenders know that you are having trouble repaying the loan, they might be able to generate a particular solution that benefits both parties. These lenders may allow a debt settlement strategy or give you a longer payment term to accommodate your financial situation. In any case, you will have no problem repaying your personal loan in a short time.

6. Seek help from relatives and friends.

Your relatives and friends are the ones you can just turn to when you need help. However, now is a good time to visit them. Find out if you can borrow money from them in order to stop the debt trap of payday loans. You can simply assure them that you will pay back in no time, they should be able to understand your current situation. Your relatives or friends might not even charge you interest on the loan they give you.

7. If you have a reserve fund, put it to good use.

Using your savings or investments for emergency purposes can be a great idea if you have some set aside for that purpose. However, stopping your payday debt trap will also allow you to avoid the high interest that comes with the loan. You will be able to collect your rescue money quickly. If possible, spend some of the money to give yourself some breathing room while you wait for additional sources of income to settle your payday loan debt.

8. Seek professional assistance

You should keep in mind that it is necessary for you to seek expert help if you are unable to achieve positive results despite following any of the measures outlined above. There are several credit counseling agencies available to help you with your payday loan debt. They will contact the lender and work with you to find a way to settle the debt. Seeking professional assistance will definitely go a long way in stopping the debt trap when using a payday loan.

In conclusion

The tips provided above will surely help to stop the debt trap when using payday loans. Do not forget that it is quite possible to stop the debt trap when using a personal loan.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes

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Fish droppings are a key ingredient in marijuana for a Michigan grower https://remedii.net/fish-droppings-are-a-key-ingredient-in-marijuana-for-a-michigan-grower/ Sat, 05 Feb 2022 06:08:55 +0000 https://remedii.net/fish-droppings-are-a-key-ingredient-in-marijuana-for-a-michigan-grower/ LANSING, Mich. (AP) — From fish poo to marijuana, the circle of life bubbles and pumps through pipes and pools in the walls of a cold-looking industrial warehouse in Lansing. It’s a licensed marijuana crop, Thumb Genetics, unlike most you’ll find in the state — or the nation, reports MLive. Thumb Genetics, a largely family-run […]]]>

LANSING, Mich. (AP) — From fish poo to marijuana, the circle of life bubbles and pumps through pipes and pools in the walls of a cold-looking industrial warehouse in Lansing.

It’s a licensed marijuana crop, Thumb Genetics, unlike most you’ll find in the state — or the nation, reports MLive. Thumb Genetics, a largely family-run business, grows marijuana using aquaponics, an ancient farming technique first implemented by Mayan and Aztec farmers in Mexico nearly a thousand years ago.

“I can guarantee you’ve never been in a culture like this,” said Lloyd Owens, 65, the company director who owns part of the business and operates it with his son. , Jack Owens. “This is the craziest growth you…have ever been.

Aquaponics is a common method used to grow more forgiving vegetables, like lettuce, but rare in the marijuana world, Lloyd Owens said.


The efficiency of aquaponics makes economic sense. There is much less waste. The need for expensive fertilizers and custom-made, nutrient-rich soil becomes obsolete. The water in the 10,000-gallon system is reused, but the upfront costs are so high and the science so complex that most investors avoid aquaponics, the Owens said, using more proven soil-based culture instead. but wasteful. methods.

“Basically, that’s about $80 worth of fish food per month versus tens of thousands of dollars in chemicals each month,” Lloyd Owens said. “The other thing is: all these other shoots, they’re wasting all this water.

“We eliminated all the media, because our media is reusable, we eliminated all the fertilizer, and the fact that we don’t have to transplant and that, we minimized our employees… We had the even water in these reservoirs for about a year and a half.

Aquaponics uses the symbiotic relationships between bacteria and animal waste to produce nutrient-rich water that is absorbed by the hanging roots of thirsty plants.

In the case of Thumb Genetics, thousands of blue Nile tilapia of varying ages swim through dark waters in 4-foot-tall blue tanks. Older larger ones have safety nets suspended above their pools to thwart the occasional suicidal leap to the concrete below.

“We had a few suicide bombers,” Lloyd Owens said.

The fish eat. They digest. The nutrients in their feces leach into the water which is filtered through a series of white PVC pipes into various pools covered in bacteria and slime algae, with a pit stop in a water tank of 1,200 gallons filled with red wiggler worms that further refine the H2O in the sludge that collects at the bottom before the cleansed and invigorated water is pumped into the grow rooms and eagerly sucked in by hundreds of growing plants under bright lights.

“You never run out,” Jack Owens said. “You recirculate your water and the plants are constantly feeding and grabbing all the nutrients they want from that water.”

A few years ago, Lloyd Owens took a road trip to Pennsylvania and picked up buckets with hundreds of tiny “fry” fish from a breeder. They are no longer small.

“We have four tanks, about 1,600 fish in total,” Lloyd Ownes said.

Each tank is approximately 1,200 gallons and the fish are divided according to size and age.

The breed is chosen, in part, because they won’t breed, as long as the water temperature is kept below 82 degrees, but they grow too old to serve their purpose: to poop frequently.

“We have different life cycles right now,” Jack Owens said, and points to a tank with larger fish approaching 1.5 pounds. “We can probably keep them for another six months, but they’re definitely getting to the size where they’re not pooping as often as the little ones.”

Once they are about two years old, their digestion is not conducive to the aquaponics system which is constantly transforming and recycling. Fish relieve themselves in higher volumes, but do so less frequently.

They all started small, as “fingerlings,” the Owens said. So far, they have avoided any serious illness. Aside from losing a few to death falls on the ground, larger tilapias eating their smaller brethren, or males eager to chase females to death exhaustion, the shoals have mostly remained in good health.

The company hasn’t had to renew the fish stock, but when it does, the Owens hope to one day be able to donate fish to the needy for meals.

“When we’re at full scale, we anticipate around 20,000 meals a year that we can donate to the homeless,” Lloyd Owens said. “We are not in the fish business. I will not get a license to sell fish.

In the meantime, as the company grows, retired fish will likely be harvested and shared with employees.

Lloyd Owens kicks on his plastic prosthetic right leg hidden under blue jeans. He stepped into a hole while jogging, “broke it in half”, he said, contributing to his eventual amputation at the age of 35. A series of other ailments led him to marijuana for pain relief.

He limps slightly and leans against the cinderblock walls to relieve his prosthetic leg whenever the opportunity arises.

Jack Owens turned to marijuana after suffering a ‘real bad’ concussion while playing goalie for the Davenport University football team in Grand Rapids in 2008, the same year the Michigan voters have legalized medical marijuana.

Agriculture is in their blood. Lloyd Owens grew up in rural Madison County, Illinois. His first job was to work in a nursery. Coincidentally, the nursery used aquaponics.

“It was my first paid job,” Lloyd Owens said as he passed ponds of fish recently fed into his marijuana grow op. “I was 15 and it turned out to be a big deal.”

He studied biology at Southern Illinois University and after his amputation returned to college, earning a degree in prosthodontics from Northwestern University. This career path led the family to transplant to Michigan, where Lloyd Owens worked in the prosthetics industry for two decades.

With the advent of medical marijuana, the Owens became caregivers, allowing them to grow marijuana on a small scale. Even then they began to flirt with the idea of ​​aquaponics, but the size of the culture did not make it economically feasible.

In 2017, they decided to upgrade and applied for a medical cultivation license. They finally started operations in August 2020 after building the former Walmart distribution warehouse in which the company currently resides.

There were originally over 30 investors among the Owens’ family and friends.

“It’s been an adventure for us to get here,” said Lloyd Owens. “There is a large group, but not a real cash group, just a group of average citizens who have pooled our money to do this.”

The 43,500 square foot warehouse, just under an acre, is nestled among a series of other growth companies in connected industrial warehouses.

Lloyd Owens opens a metal door leading to the concrete loading dock used for deliveries. The cold rushes inside. He climbs the steel grate stairs and opens a door on the roof and points to the next building. It is also a licensed crop, which uses soil.

See all those air conditioners, he says. There are dozens of them. It draws attention to its side of the roof. It’s naked.

“This culture next to us is exactly the same size as ours,” he said. “And it’s the air conditioning needs that are increasing and his electric bill is about $40,000 to $50,000 a month. Mine hasn’t reached $8,500 yet.

Lloyd Owens said his facility uses three air conditioners. This is the nature of a water-based culture system. Water helps cool down. If a grow gets too hot, microbes are attracted, the marijuana can become contaminated and invaded by pests.

When asked why, if Thumb Genetics’ aquaponics system is so much more efficient, others don’t copy their style, Lloyd Owens said it was a matter of upfront cost and expertise. .

“The initial costs are three to four times higher,” he said. “So that comparable growth could probably be done for about $1 million, a million and a quarter. It cost about $4 million.

Jack Owens said it was also craftsmanship. “There are not enough scientists,” he said. “It is very difficult to keep plants living in the same water for so long. You can make lettuce in 30 days, but when you make marijuana, it’s a lot longer.

The Owens are planning a massive expansion in the coming years. Aquaponics, more than traditional methods, is about the long term. Once the higher initial expenses are paid, the profitability of the system should allow the business to thrive.

“As the price of marijuana goes down, you better cut your operating costs, and that’s the lowest operating cost for any marijuana,” Lloyd Owens said.

The aquaponics method allows Thumb Genetics to reduce the growing cycle by approximately one week, which becomes significant on a large scale. Another characteristic of Thumb Genetics marijuana that they believe will set it apart for years to come is that it is organic. Other growers use pesticides or methods that are not considered organic.

“It’s going to be federally legal,” Lloyd Owens said. “It’s only a matter of time, and cleaner marijuana will be more valuable to the bigger players who get into it.”

Currently, Thumb Genetics operates approximately three grow rooms with 250 plants each that produce approximately eight ounces of marijuana each every eight to 12 weeks, depending on the strain.

They have dozens of strains they created as caregivers and continue to breed as the new company grows. Their primary client is Edgewood Wellness, a medically licensed dispensary at 134 E. Edgewood in Lansing

“He’s probably going to have to retire soon, because he’s getting older,” says Jack Owens of his father. “So the plan is to take that model and copy it across the state in new buildings, and then venture into every other state as well.”

Before crossing state lines, there is still plenty of room for expansion in their current building. As they walk through the largely empty warehouse, Jack Owens points to beams and walls, explaining the vision. They are planning ten new grow rooms, which would expand their cultivation from 3,500 allotted plants to nearly 6,000 plants.

In one of the grow rooms. Three employees wearing hygienic scrubs and slippers tend to the plants.

Lloyd Owen points to a woman wrapped in greenery.

“Look at that girl over there, she’s my daughter,” he said. “My wife is at a seminar with the accountant right now.

“It’s a real family affair.”

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Why banks are eliminating overdraft fees | Personal finance https://remedii.net/why-banks-are-eliminating-overdraft-fees-personal-finance/ Fri, 28 Jan 2022 23:20:33 +0000 https://remedii.net/why-banks-are-eliminating-overdraft-fees-personal-finance/ “Overdraft fees are deeply unpopular with consumers, and consumers now have more choice,” says Leigh Phillips, CEO of fintech nonprofit SaverLife and chairman of the Consumer Advisory Board of the Consumer Financial Protection Bureau. “Previously, they only had mainstream options like banks and credit unions or fringe services like payday loans. Today, neobanks and challenger […]]]>

“Overdraft fees are deeply unpopular with consumers, and consumers now have more choice,” says Leigh Phillips, CEO of fintech nonprofit SaverLife and chairman of the Consumer Advisory Board of the Consumer Financial Protection Bureau. “Previously, they only had mainstream options like banks and credit unions or fringe services like payday loans. Today, neobanks and challenger banks are creating services that suit a variety of consumers. .”

With the rise of these new, smaller banks, as well as online and mobile banking, the banking industry has had to find more ways to win over new customers. Overdrafts can be stressful and expensive, and if a bank can help customers avoid these potentially large fees, that bank could be more attractive to consumers.

“What we’ve found is that when we make these kinds of changes, our customers notice it and potential customers notice it as well,” a Capital One spokesperson said. “We realized that these policies, although costly in the short term, pay off in the long term.”

Some financial institutions, such as Chime and SoFi, have gone so far as to offer consumers a certain amount of money – similar to a line of credit – that they can draw down if they overdraw their accounts. These features come free with qualifying account activity. For example, Chime’s SpotMe feature can give customers up to $200 to cover the cost of a transaction instead of overdrafts, and SoFi offers customers up to $50.

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New Zealand’s Puro and Helius team up for medical cannabis https://remedii.net/new-zealands-puro-and-helius-team-up-for-medical-cannabis/ Sun, 23 Jan 2022 21:16:14 +0000 https://remedii.net/new-zealands-puro-and-helius-team-up-for-medical-cannabis/ Two of New Zealand’s medical cannabis heavyweights have joined forces as they prepare to make their mark in local and overseas markets. As part of a five-year, multimillion-dollar deal, Marlborough-based grower Puro will supply more than 10 tonnes of organic medical cannabis to Auckland-based Helius Therapeutics. Billed as New Zealand’s largest medical cannabis deal to […]]]>

Two of New Zealand’s medical cannabis heavyweights have joined forces as they prepare to make their mark in local and overseas markets.

As part of a five-year, multimillion-dollar deal, Marlborough-based grower Puro will supply more than 10 tonnes of organic medical cannabis to Auckland-based Helius Therapeutics. Billed as New Zealand’s largest medical cannabis deal to date, the partnership will also involve the sharing best practices and R&D for future products.

“It’s significant in size and scale, and in what it portends for the future,” Puro chief executive Tim Aldridge said. “This is the start of a long-term business partnership between Helius and Puro, where we will work together to grow local industry, laying down pathways for an exciting new export industry for New Zealand.”

The achievement of GMP status by Helius and the recently achieved organic status by Puro for its outdoor crops is a powerful combination for both the local market and those abroad. Puro expects the first New Zealand shipment to export this year, while Helius will unveil its export strategy in the coming months.

Helius Therapeutics chief executive Carmen Doran says the global medicinal cannabis market is expected to reach over NZ$60 billion by 2025 – and both companies want a decent share of that share. But there are also significant opportunities closer to home for New Zealand grown, manufactured and branded medicines. The country’s medical cannabis companies have received significant support from Kiwis, many of whom want access to local products.

December marked three years since the New Zealand Parliament unanimously passed legislation authorizing a New Zealand medicinal cannabis industry. Since then, the road has been long, difficult and often frustrating for all involved, but Helius notes that the industry is now in the most important phase – delivery.

Helius is already working with Puro’s medicinal cannabis at its East Auckland extraction facility, and more will be supplied after Puro’s harvest in March. Puro’s harvest last year from its Kēkerengū site on the Kaikōura coast of New Zealand’s South Island was said to be New Zealand’s largest ever. Whether this year’s will be bigger remains to be seen.

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Personal habits that can increase financial risk https://remedii.net/personal-habits-that-can-increase-financial-risk/ Fri, 21 Jan 2022 19:30:28 +0000 https://remedii.net/personal-habits-that-can-increase-financial-risk/ (MENAFN – ValueWalk) When it comes to things that may pose a risk to your finances, certain activities may immediately come to mind. Investing heavily in high-risk stock options, quitting your job without a back-up plan, or habitually making large, unnecessary purchases are all obvious actions that can certainly affect your finances. But what about […]]]>

(MENAFN – ValueWalk)

When it comes to things that may pose a risk to your finances, certain activities may immediately come to mind. Investing heavily in high-risk stock options, quitting your job without a back-up plan, or habitually making large, unnecessary purchases are all obvious actions that can certainly affect your finances.

But what about the things you do in your daily life? Surprisingly, common personal habits can also jeopardize your personal wealth. Some of these habits seemingly have nothing to do with money, but can have a major impact in ways you may not have considered.

Contents Pin up

  • 1. Recreational alcohol use

  • 2. Lack of savings

  • 3. Continuous subscriptions that you do not use

    • 3.1. Focus on the day-to-day

Recreational alcohol consumption

When linking alcohol to financial risk, the obvious route is prosecution or criminal charges for misconduct. One danger that may not be as widely known, however, are the long-term consequences stemming from traumatic brain injury. As alcohol is estimated to be a contributing factor in approximately 50% of all traumatic brain injury incidents, the habit of drinking alcohol can have very real consequences.

Letter 2021 from Seth Klarman: Baupost’s “endless” information hunt

Baupost’s investment process involves “endless” gleaning of facts to help support investment ideas, writes Seth Klarman in his year-end letter to investors. In the letter, a copy of which ValueWalk was able to review, the value investor outlines Baupost Group’s process for identifying ideas and answering the most critical questions about its potential Read more

Brain damage can impact your finances far beyond substantial medical bills. If you have a brain injury that causes permanent damage and renders you unable to work, your income could be a fraction of what you are used to. While disability payments may provide meager relief, these payments can take months to initiate and may require multiple rounds of appeals.

Lack of savings

Spending on a monthly basis at the higher end of your monthly income is fine until an unexpected expense arises. The problem with this is the fact that unexpected expenses will arise at some point. Whether it’s a car repair or water damage in your home due to a burst pipe, costs will arise that cannot be delayed.

Americans have become more aware of having funds set aside for emergencies. However, about 51% have less than three months of spending in savings. When unexpected costs arise, it’s all too easy to fall into the trap of high-interest borrowing. This can take the form of credit cards or payday loans. Unless you drastically adjust your monthly expenses, you run the risk of spending long periods of time recouping interest payments.

Continuing subscriptions that you are not using

It can sometimes be comforting to have the option of using something even if you decide not to. Signing up for that gym membership at the start of the year seems like a step in the right direction for overall health, but it does little good other than drain your bank account if you don’t use it. .

Maybe there was a single TV show that you were excited to watch and signed up for a streaming service. After you finished watching, did you find anything else on this streaming service? Does it appear as a recurring monthly charge on your credit card without being used?

Many services start with an introductory free trial that requires you to enter payment information upfront. This is a savvy business strategy as it is very easy to forget that payment is due after 30-60 days. Even if you remember, you still have to take the time and effort to call or log into your account to cancel. If you don’t regularly check your credit cards and bank accounts for automatic payments, you could be wasting huge amounts of money each month.

Whether you put a cap on subscriptions and other memberships as part of your annual family budget or just check that you’re using the ones you pay for, get into the habit of not throwing away money.

Focus on the day-to-day

Financial difficulties don’t always stem from the fallout of failed business deals or a drop in investment. Much of the success of financial stability comes from daily habits. To avoid unforeseen difficulties in terms of personal wealth, it is better to adopt good habits and not take unnecessary risks.

Updated January 21, 2022 at 11:40 a.m.

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Bipartisan SAFE Banking Act Supports Federal Marijuana Reform https://remedii.net/bipartisan-safe-banking-act-supports-federal-marijuana-reform/ Thu, 20 Jan 2022 13:07:43 +0000 https://remedii.net/bipartisan-safe-banking-act-supports-federal-marijuana-reform/ The bipartisan Secure and Fair Enforcement (SAFE) Banking Act, which remains stalled in the US Senate, could help make a difference in ending the federal ban on cannabis, a nearly $18 billion industry that continues to grow as more states decriminalize it. © Shutterstock “The SAFE Banking Act won’t end cannabis prohibition on its own, […]]]>

The bipartisan Secure and Fair Enforcement (SAFE) Banking Act, which remains stalled in the US Senate, could help make a difference in ending the federal ban on cannabis, a nearly $18 billion industry that continues to grow as more states decriminalize it.

© Shutterstock

“The SAFE Banking Act won’t end cannabis prohibition on its own, but it is an essential step on the road to legalization,” Steven Hawkins, CEO of the US Cannabis Council, told Financial Regulation News.

U.S. Representative Ed Perlmutter (D-CO) in March 2021 sponsored his House’s version of the bill, HR 1996, which currently has 180 co-sponsors. On April 19, 2021, the United States House of Representatives voted 321 to 101 to approve the bill, which generally prohibits a federal banking regulator from penalizing a depository institution for providing banking services to a legitimate business. cannabis-related.

The U.S. Senate received the bill on April 20, 2021 for review and referred it to the Senate Banking, Housing, and Urban Affairs Committee, which is also considering the Senate version of the bill, S. 910.

Since then, there has been no action on the bill, and Rep. Perlmutter announced earlier this month that he would not seek re-election. The congressman, who has represented Colorado’s 7th congressional district since 2007, said he still plans to help get the SAFE Banking Act across the finish line.

“I am optimistic about the path forward for the SAFE Banking Act and, more broadly, reforms to our federal cannabis laws,” Perlmutter said of the House-approved bill. “Congress must act to catch up with the will of the majority of voters in this county and to ensure that we reduce the public safety risk to our voters and our communities.”

Forty-seven states, four US territories and the District of Columbia – representing nearly 98% of the US population – have legalized some form of recreational or medical marijuana, including CBD.

However, current law prevents legitimate licensed marijuana businesses from accessing banking services and products, including checking and deposit accounts, which has forced them to operate in cash, according to Perlmutter staff.

And whenever businesses are known to operate strictly in cash, a serious public safety risk develops for communities by inviting theft, robbery and burglary, its staff said.

“Cannabis businesses of all sizes are struggling to conduct their business almost entirely in cash,” Hawkins agreed. “It’s inefficient and a constant security risk. The past two years have seen an upsurge in crimes targeting dispensaries.

The purpose of the SAFE Banking Act is actually to increase public safety by ensuring access to financial services for legitimate cannabis-related businesses and service providers and reducing the amount of money in those businesses, according to the text of the bill.

The bill would also state that the proceeds of a transaction involving the activities of a legitimate cannabis-related business are not considered proceeds of illegal activity, according to the congressional summary of the bill, and that A deposit-taking institution would not, under federal law, be held liable or subject to asset forfeiture for providing a loan or other financial services to a legitimate cannabis-related business.

In addition, the bill would provide that a federal banking agency cannot request or direct a deposit-taking institution to terminate a customer account unless the agency has a valid reason to do so, and a reason does not cannot be based solely on reputational risk, the summary states. . Valid reasons for terminating an account include threats to national security and involvement in the financing of terrorism, including state sponsorship of terrorism.

“The legislation is common sense reform that extends standard banking services to regulated cannabis businesses,” Hawkins explained. “Many small, minority-owned cannabis businesses struggle to access capital and basic services like verification and payment processing. Many large cannabis companies have found workarounds that work, but they’re expensive and inconvenient. »

Speaking of minorities, many industry players and lawmakers, such as Senate Majority Leader Chuck Schumer (D-NY), believe cannabis reform must also be balanced with social equity measures. Hawkins agrees.

“A fair cannabis industry is a more prosperous and sustainable industry for everyone involved. We believe advancing social equity is not only the right thing to do, it’s also smart business and drives the long-term viability of cannabis,” he said.

By including social equity provisions, Hawkins said there would be guarantees that pathways to entrepreneurship exist for populations who have been “hardest hit” by past punitive entrepreneurship policies. of cannabis. “Policies that support a diverse cannabis industry are critical to success,” he said.

Although the House-approved SAFE Banking Act does not include such provisions, the bill would require the U.S. Comptroller General to conduct a study of barriers to market entry, including in the process of licensing, and access to financial services for potential and existing legitimate minority and women-owned cannabis-related businesses, and to provide Congress with any regulatory or legislative recommendations to remove these barriers and expand the access to financial services.

Senator Schumer would have liked to see greater social equity protections in the bill before agreeing to advance cannabis banking legislation, and Senate leaders have also said comprehensive reform must come first. the banks. Both positions effectively prevented the SAFE Banking Act from being included in a larger defense bill that was before the Senate.

“The narrative has begun to shift around the SAFE Banking Act as more people understand that lack of access to banking services is a risk to public safety and undermines social equity,” Hawkins said. “We were inspired by the wave of support last year for banking reform from all corners of our society and economy – from the association of estate agents to the union of food workers.”
Hawkins added that the US Cannabis Council (USCC) is “aggressively pushing” to advance criminal justice reforms in Congress and by President Joe Biden.

“Specifically, we strongly support the HOPE Act, a bipartisan bill that would make it easier to expunge state and local cannabis-related crimes,” he said. “We also urge the President to follow through on his campaign promise to issue a blanket pardon for federal cannabis offenses.”

HR 4236 Health Equity Opportunities (HOPE) Act would require the US Department of Health and Human Services, when awarding grants to train low-income people to work in certain health professions, to make some effort to ensure the geographic diversity of grant recipients, according to the summary of the Congressional record bill. The bill was introduced last June by U.S. Representative Bill Pascrell, Jr., (D-NJ) and remains under consideration by the House Ways and Means Committee.

Additionally, the USCC plans to actively engage in the Booker-Wyden-Schumer reform proposal in the Senate, Hawkins said, referring to comprehensive cannabis reform legislation to be formally introduced by Senator Schumer and the American senses Cory Booker (D-NJ) and Ron Wyden (D-OR).

Currently being circulated as a discussion draft, the Cannabis Administration and Opportunity Act proposes to end federal prohibition of cannabis by removing it from the Controlled Substances Act, and would designate the United States Food and Drug Administration as primary federal manufacturing and marketing regulator. cannabis products, with regulatory oversight from the Bureau of Alcohol and Tobacco Tax and Trade and the Bureau of Alcohol, Tobacco, Firearms and Explosives.

Among many other provisions, the proposal also addresses the impact of the War on Drugs through expungements, re-convictions, opportunity trust fund programs and small business administration programs, the draft says. of the Senate.

“We look forward to a substantive conversation in the Senate on how best to legalize and regulate cannabis federally,” Hawkins said.

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