Anton Petrus/Getty Images (WASHINGTON) -- The Biden administration is rethinking how it classifies marijuana under a federal list of drugs, a move that could allow the cannabis industry to save potentially billions in federal taxes each year because it would allow producers to write off their business expenses. The proposal, recommended by the Department of Health and Human Services and under consideration by the Drug Enforcement Administration, also would open up the possibility that medical researchers could study the benefits and risks of marijuana as a potential drug.

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