Things are changing in the CBD industry. Rep. Kurt Schrader (D-OR) and Rep. Morgan Griffith (R-VA) recently introduced the The Hemp and Hemp-Derived CBD Consumer Protection and Market Stabilization Act of 2020, which helps legally regulate the sale of hemp-derived CBD products. This is significant for the hemp industry and consumers alike, as sales and quality of products will be greatly enhanced for the benefit of both consumers and farmers.
Since the start of the booming industry, CBD businesses have had to overcome many hurdles getting their products to the general market. The FDA was failing in legally regulating the sale of hemp-derived products, thus making it confusing and misleading. Because of this, prices have been decreasing, while quality of the products on the market varies across the spectrum with no regulation. Safety and consumer protection are of great concern in the CBD industry, and having this bill will create a standard of regulating products.
Presented on September 3rd, the bipartisan Schrader/Griffith bill ensures that hemp-derived/non-intoxicating hemp ingredients can be put in the market as dietary supplements. Using existing regulatory framework, this bill would require manufacturers to make sure products are safe, labeled accurately, and the companies are using Good Manufacturing Practices. Most notably, this bill would stabilize the hemp industry as a whole, going hand in hand with the 2018 Farm Bill. This would mean a huge boost in the agricultural sector.
This means more than just CBD manufacturers are excited. Dietary supplement organizations such as the American Herbal Products Association and the Council for Responsible Nutrition applaud the efforts of this bill as a necessary part of the supplement industry. For years, supplement organizations have been calling on congress to regulate CBD, as many consumers are looking for quality CBD products in the dietary supplement market. If passed, hemp-derived products in supplements would be deemed as “New Dietary Ingredients” or NDIs.
Though there is a buzz surrounding this new bill, the Schrader/Griffith bill hasn’t been passed yet. With grassroots efforts from the Hemp Roundtable, we hope this bill will pass with flying colors and help millions of people across the US. If interested in supporting the H.R. 8179 bill, please send a message to your representative through their call to action page.
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