Boston Hemp Inc. Issues Statement Calling for Full Protection of Legal Hemp Under the 2018 Farm Bill Framework

Core Viewpoint - Boston Hemp Inc. urges federal policymakers to maintain the current legal definition of hemp under the 2018 Farm Bill, opposing any new THC caps or restrictions that could harm the industry and consumer access [1][5]. Economic Contribution - The hemp industry has demonstrated significant economic value, contributing billions in retail revenue and tax income across multiple states, with states like Texas and Indiana reporting robust sales and employment growth linked to hemp-derived cannabinoids [6]. - Tens of thousands of jobs in various sectors, including farming, processing, retail, and logistics, depend on the preservation of the federal hemp definition [6]. Safety Record - There have been no verified deaths linked to regulated hemp cultivation or compliant hemp-derived product use, indicating a strong safety record under the current regulatory framework [3][9]. Agricultural Stability - Farmers rely on hemp as a viable crop for various uses, and sudden regulatory changes could invalidate investments and disrupt agricultural planning [4]. Potential Negative Impacts of New THC Caps - Altering the federal definition of hemp or imposing new THC limits could lead to: - Elimination of thousands of jobs across the industry [7]. - A sharp decline in retail sales and state tax revenue [7]. - Limited consumer access to hemp-derived products, which millions rely on for wellness [7]. - Increased uncertainty for farmers and reduced market opportunities [7]. - Growth of unregulated markets, pushing consumers towards unsafe products [7]. Company Position - The company emphasizes that the 2018 Farm Bill provides a clear framework defining hemp as cannabis with less than 0.3% THC by dry weight, advocating for sensible regulations rather than bans or arbitrary caps [5].