Welcome to the New Federalism Fund’s Blog.
We are here to keep you up to date with grassroots, legislative, and executive branch happenings related to our efforts to simplify the Federal tax code to allow for the equal treatment and protection of legal businesses, engaging in legal industries within state boundaries; support the constitutionally enshrined concept of federalism as embodied by the 10th Amendment; and codification of the Cole Memorandum.
At the New Federalism Fund our goals are to simplify the Federal tax code by amending Section §280(e) of the Internal Revenue Code that forbids deductions a legal business, selling a legal product, can make for normal business expenses, if the legal business, sells a legal product that is classified as a Schedule I or II narcotic according to the federal government.
We are also committed to a renewed focus on the 10th Amendment and a furtherance of federalism to allow for state-based and regulated economic development. The states are the laboratories of democracy and should regulate their own commerce. Legal goods and services produced, distributed, and retailed within a state’s boundaries should be within the state’s purview to regulate.
The New Federalism Fund also supports a restatement and eventual codification of the Cole Memorandum to allow for state-based enforcement and oversight of marijuana laws. State regulators and state/county/local law enforcement agencies are best suited to deal with cannabis laws. The Memorandum allows for the best prioritization of limited national and local policing and prosecutorial resources.
Again, welcome to our blog and please check back regularly for new content if you support small businesses, favor the free market, imagine a fair and equitable federal tax code for legal businesses, and believe that states are still the laboratories of democracy.