Rep. Alexandria Ocasio-Cortez recently introduced an amendment in Congress that would remove a federal research barrier on psychedelics and, in turn, promote studies on the therapeutic potential of psychedelics such as ibogaine, psilocybin and MDMA. The congresswoman’s measure would be opposing an amendment that was first enacted in the late 1990s, which prohibits federal funds from being used in any activity that promotes the legalization of substances or drugs classified under Schedule I of the Controlled Substances Act. The measure also includes a provision that directs the FDA to establish a regulatory pathway allowing CBD to also be dispensed as a dietary supplement.
The measure’s intent is to allow researchers in the United States to examine and study the possible effects of several drugs in Schedule I, including ibogaine, psilocybin and MDMA, which have demonstrated effectiveness in treating various conditions.
Earlier in 2019, the majority of the members in the House, both Republicans and Democrats alike, voted against an earlier version of Rep. Ocasio-Cortez’s amendment. However, Congress may take a different approach on the issue this time, given the surge in local and state psychedelic reform efforts in the recent past.
The congresswoman is seeking to attach the amendment to the 2022 spending legislation that covers funding for various agencies. Other amendments on drug policy issues have also been added to the legislation. A House recent committee report encouraged federal health agencies to pursue research into psychedelics’ therapeutic potential for military veterans who suffer from various mental health conditions. This report was also attached to the spending legislation.
However, as more legislators work on progressive drug-policy issues, some are working to add more regressive amendments to the 2022 fiscal year spending bill for various departments, including the Departments of Housing and Urban Development, Veterans Affairs, Financial Services and General Government, Rural Development, Agriculture, Education, Health and Human Services as well as the Department of Labor.
For instance, Rep. Doug LaMalfa filed an amendment to have $25 million transferred to the National Forest Systems account for the remediation and enforcement of illegal cannabis trespass grow sites on federal lands. Rep. Debbie Lesko also introduced a measure to remove an amendment added to the spending bill in the House Committee that would allow federal funding to be allocated to institutions of higher learning that were carrying out research on cannabis. The Rules Committee will be meeting in the coming week to decide which amendments will be voted on by the full House of Representatives.
Given that companies such as Tryp Therapeutics Inc. (CSE: TRYP) (OTCQB: TRYPF) have done extensive R&D on psychedelic substances and have made major strides towards commercializing medicinal formulations out of these substances, it isn’t surprising that some legislators are beginning to take note and are striving to reform the existing policies so that it is easier to study these potentially therapeutic compounds.
NOTE TO INVESTORS: The latest news and updates relating to Tryp Therapeutics Inc. (CSE: TRYP) (OTCQB: TRYPF) available in the company’s newsroom at https://ibn.fm/TRYPF
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