Filed: Washington DC -“To amend the Internal Revenue Code of 1986 to maintain the prohibition on allowing any deduction or credit associated with a trade or business involved in trafficking marijuana.”

The campaign gets more Napoleonic by the day

Mr. LANKFORD (for himself and Mr. RICKETTS) introduced the following bill

I like to put faces to names

LANKFORD

RICKETTS

Just so we are clear – their words

This Act may be cited as the ‘‘No Deductions for Marijuana Businesses Act’’.

The lawfare word in the following paragraph –

Have you spotted it?  Just in case you haven’t I have highlighted it in red

‘‘No deduction or credit shall be allowed for any amount paid or incurred during the taxable year in carrying on any trade or business if such trade or business (or the activities which comprise such trade or business) consists of trafficking in— ‘‘(1) marijuana (as defined in section 102(16) of the Controlled Substances Act (21 U.S.C. 802(16))), or ‘‘(2) controlled substances (within the meaning of schedule I and II of the Controlled Substances Act), which is prohibited by Federal law or the law of any State in which such trade or business is conducted.’’.

I’d say this is your classic shot across the bows, i didn’t use the Napoleonic wars analogy for no reason!

The senators would ,i imagine, prefer a war of independence historical analogy with them on the side of freedom etc etc  but this rings of taxes on tea and we know what happened there.

Here’s the bill.