News Summary

In Texas, Sunmed is calling on Governor Greg Abbott to veto Senate Bill 3, warning that its passage could jeopardize over 53,000 jobs and significantly impact the hemp industry. Critics assert the bill threatens small businesses with hefty licensing fees and restricts available hemp products. As community opposition grows, the financial and health implications of the bill remain contentious topics. With the clock ticking, Sunmed encourages Texans to voice their concerns and urge the governor to take action.

Sunmed Calls on Governor Abbott to Veto Senate Bill 3

In the bustling state of Texas, a storm is brewing over legislative changes that could reshape the landscape of the hemp industry. Sunmed™, a prominent player in the CBD market, is making headlines by urging Governor Greg Abbott to veto Senate Bill 3 (SB 3). According to the company, this proposed bill threatens the livelihoods of countless Texans involved in the hemp sector.

53,000 Jobs at Risk

SB 3 is not just another piece of legislation; it poses a serious threat to small independent merchants across the Lone Star State. If enacted, it’s projected to jeopardize over 53,000 jobs within the Texas hemp industry. That’s a staggering number when you consider the impact this could have on families and communities. With the potential closure of around 8,000 businesses, the economic ripple effect could be massive.

The Financial Fallout

A fiscal note from the Legislative Budget Board brings the bad news home with an estimated net negative impact of $19.27 million on general revenue-related funds for the biennium ending August 31, 2027. As the years roll on, losses from SB 3 could escalate annually, potentially hitting a dramatic $11.69 million by 2030. These figures illustrate a dark forecast for Texas’s economic future if the bill is signed into law.

Community Concerns and Opposition

Critics of SB 3 argue that it doesn’t cater to public interest, especially since Texas residents have consistently shown support for accessible hemp products. Recent public hearings have revealed overwhelming community opposition. People are concerned that SB 3 severely limits permissible hemp-derived consumables, restricting options to isolated forms of CBD and CBG. This narrow focus would ban a variety of products, including many that are THC-free and considered broad-spectrum.

Heavy Financial Burden

Adding to the woes, the bill imposes hefty licensing fees that small businesses may struggle to bear. Retailers would face an eye-watering $20,000 fee each year, while manufacturers would be hit with $10,000 annually plus an additional $500 per product. These financial constraints could make it nearly impossible for smaller enterprises to stay afloat.

Call to Action

With the stakes this high, Sunmed is rallying Texans to make their voices heard. They encourage residents to contact Governor Abbott and put pressure on him to veto SB 3. Given that the bill has already sailed through the Texas House with a vote tally of 95-44 and the Senate at 25-6, the clock is ticking for those who wish to see it halted.

Health Concerns and Alternative Perspectives

The debate around SB 3 hasn’t been solely financial. Texas Lieutenant Governor Dan Patrick raised health concerns related to THC use, suggesting potential links to schizophrenia and other health issues. However, many veterans and advocates argue that THC can play an essential role in mental health support and chronic pain management. This divergence of opinions speaks volumes about the complex nature of the cannabis debate.

What’s Next?

Governor Abbott has yet to reveal his stance on SB 3, but he is expected to give it careful consideration. If it is signed into law, the ban on THC products would take effect in September 2025. Notably, the Compassionate Use Program in Texas, which allows medical marijuana use for specific conditions, remains unaffected by this legislation.

The future of Texas’s hemp industry hangs in the balance as lawmakers and citizens alike look toward Governor Abbott for direction. The outcome not only impacts small businesses but also the broader health and well-being of many Texans who rely on these products.

Sunmed Urges Governor Abbott to Veto Senate Bill 3