Texas THC ban: Groups to hold competing news conferences with bill awaiting Abbott approval
The Brief
Competing news conferences are being held today to sway Gov. Abbott on a bill banning most THC products in Texas.
Opponents warn the ban (SB 3) would dismantle a multi-billion dollar industry and push products underground.
Supporters of SB 3 say the products are potentially dangerous.
AUSTIN, Texas - With a bill to ban THC products in Texas awaiting Governor Greg Abbott's signature, both supporters and those who oppose the bill are looking to sway the governor.
Competing news conferences between the Texas hemp industry and those looking to ban the products.
The Texas Hemp Business Council held a news conference on Monday morning, which included comments from farmers, veterans, small business owners and hemp advocates.
The advocates raised concerns about what they say will dismantle a $4.3 billion industry which they say supports 53,000 jobs, as well as the potential to "open the floodgates" to unregulated, unsafe products in the vacuum created by the legislation.
A petition with more than 100,000 signatures and thousands of letters were delivered to Gov. Greg Abbott's office after the news conference.
What they're saying
"I'm here today with one simple message. Governor Abbott, please veto Senate Bill 3," said Texas VFW Seniro Commander Dave Walden.
Walden said he was put on a "never-ending parade of pills" to help combat his PTSD. He spoke about a time when he was "lost in a fog due to prescription drugs" and wandered away from home. He said hemp-derived THC gummies helped him. Those same gummies would be banned under SB3.
"Senate Bill 3 wants to turn [the gummies] into contraband. It wants to me and thousands of other veterans into criminals for choosing an alternative that works for us," said Walden.
Walden says he supports the expansion of the state's Compassionate Use Program, which allows for medicinal marijuana to be used in specific circumstances. He says it will take too long and can be too expensive.
"I explored TCUP. I did my own research. $500 a month is what it cost me, versus $90 in gummies. A veteran that lives on VA disability and makes a couple grand a month and that's all the income they have, how can they afford it?" he said.
Another news conference will be held by a group in support of Senate Bill 3.
Citizens for a Safe and Healthy Texas is holding a news conference at the capitol at 3:30 p.m.
Speakers at the event are expected to include members of the Texas Legislature, doctors, veterans and more.
What's next
Abbott has declined to comment on whether he will sign SB 3 into law. The legislation has been sent to his desk, and while the governor has been vocal about bills he intends to sign, the THC ban has not been mentioned in the wake of pressure from opposing sides.
The governor has three choices before him. He can either sign the bill into law, veto the legislation, or allow it to sit on his desk for 10 days, at which point it will pass without his direct approval and take effect on Sept. 1.
SB 3 has been championed through the legislative session by Lt. Gov. Dan Patrick, who has called the consumable products "poison."
Patrick argues the industry was created unintentionally and that several of the products on store shelves are not regulated and could contain dangerous amounts of THC.
The other side
Small business owners have been among the front runners of those in opposition of the bill. They say the industry is made up of over 8,000 businesses in the state, all of which would potentially be dismantled if the bill were signed into law.
Patrick has come under fire by small business owners, who claim he "blatantly lied" about the contents of consumable THC products.
Alongside small businesses are Texas veterans. They say THC has been a positive alternative to more addictive and potentially harmful substances like alcohol, opiates and prescription pills, and worry about those suffering from PTSD and other mental and physical maladies who might fall back into destructive habits if the substance is banned.
The backstory
The THC products being sold by businesses in Texas were legalized via an accidental loophole created in 2019, when Texas passed legislation expanding the hemp industry. Farmers worry that closing off that loophole will be disastrous for their profits and employees, which have come to rely heavily on the booming industry over the past six years.
The Source
Information in this article comes from the Texas Hemp Business Council and Citizens for a Safe and Healthy Texas, a news conference held by Texas Lieutenant Governor Dan Patrick on May 28, 2025. Other information comes from the Texas Legislature and past FOX reporting.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
HELOC rates today, June 7, 2025: The home equity line of credit rate holds steady
HELOC rates remained firm today, as Friday's jobs report spread a little cheer around Wall Street. However, while stocks were buoyed by the news, bonds sold off — and when that happens, yields rise. We will want to keep an eye on that trend next week to see if it transfers over to the consumer interest rate market. HELOC rates are more demand-driven than mortgage rates, with bank and credit union deposits funding most home equity line of credit accounts. This gives depository institutions more latitude for competitive pricing. Dig deeper: HELOC vs. home equity loan: Tapping your equity without refinancing According to Zillow, the rate on a 10-year HELOC remains unchanged at 6.73% today. The same rate is also available on 15- and 20-year HELOCS. VA-backed HELOCs also held steady at 6.28%. Homeowners have a staggering amount of value tied up in their houses — more than $34 trillion at the end of 2024, according to the Federal Reserve. That's the third-largest amount of home equity on record. With mortgage rates lingering in the high 6% range, homeowners are not going to let go of their primary mortgage anytime soon, so selling a house may not be an option. Why let go of your 5%, 4% — or even 3% mortgage? Accessing some of that value with a use-it-as-you-need-it HELOC can be an excellent alternative. HELOC interest rates are different from primary mortgage rates. Second mortgage rates are based on an index rate plus a margin. That index is often the prime rate, which today is 7.50%. If a lender added 1% as a margin, the HELOC would have a rate of 8.50%. However, you will find reported HELOC rates are much lower than that. That's because lenders have flexibility with pricing on a second mortgage product, such as a HELOC or home equity loan. Your rate will depend on your credit score, the amount of debt you carry, and the amount of your credit line compared to the value of your home. And average national HELOC rates can include "introductory" rates that may only last for six months or one year. After that, your interest rate will become adjustable, likely beginning at a substantially higher rate. You don't have to give up your low-rate mortgage to access the equity in your home. Keep your primary mortgage and consider a second mortgage, such as a home equity line of credit. The best HELOC lenders offer low fees, a fixed-rate option, and generous credit lines. A HELOC allows you to easily use your home equity in any way and in any amount you choose, up to your credit line limit. Pull some out; pay it back. Repeat. Meanwhile, you're paying down your low-interest-rate primary mortgage like the wealth-building machine you are. Today, FourLeaf Credit Union is offering a HELOC rate of 6.49% for 12 months on lines up to $500,000. That's an introductory rate that will convert to a variable rate later. When shopping lenders, be aware of both rates. And as always, compare fees, repayment terms, and the minimum draw amount. The draw is the amount of money a lender requires you to initially take from your equity. The power of a HELOC is tapping only what you need and leaving some of your line of credit available for future needs. You don't pay interest on what you don't borrow. Rates vary so much from one lender to the next that it's hard to pin down a magic number. You may see rates from nearly 7% to as much as 18%. It really depends on your creditworthiness and how diligent a shopper you are. For homeowners with low primary mortgage rates and a chunk of equity in their house, it's probably one of the best times to get a HELOC. You don't give up that great mortgage rate, and you can use the cash drawn from your equity for things like home improvements, repairs, and upgrades. Of course, you can use a HELOC for fun things too, like a vacation — if you have the discipline to pay it off promptly. A vacation is likely not worth taking on long-term debt. If you take out the full $50,000 from a line of credit on a $400,000 home, your payment may be around $395 per month with a variable interest rate beginning at 8.75%. That's for a HELOC with a 10-year draw period and a 20-year repayment period. That sounds good, but remember, it winds up being a 30-year loan. HELOCs are best if you borrow and pay back the balance in a much shorter period of time.
Newsweek
an hour ago
- Newsweek
How Veteran's Benefits Are Impacted by Trump's Tax Bill: What to Know
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. President Donald Trump's legislative agenda continues to reshape federal spending, with House Republicans proposing a $453 billion bill for the Department of Veterans Affairs (VA) in fiscal year 2026. While the bill preserves core benefit increases for veterans, it introduces a series of controversial provisions that could change how some services are accessed and funded. The new spending proposals, part of the One Big Beautiful Bill passed by the House in May, come amid a flurry of changes at the VA, including staffing cuts at the department, which have sparked protests across the nation. Why It Matters Veterans' programs have historically received bipartisan support and consistent funding increases. Trump's proposed budget continues that trend, with an $83 billion boost over the prior year, largely for mandatory medical care and benefits payouts. However, the bill's inclusion of policy items tied to reproductive health, firearm access, and vaccine mandates could limit or reshape access to VA services. What to Know The VA budget includes: A 22 percent—$83 billion—overall funding increase , with nearly all new funding earmarked for medical care and mandatory benefits like disability payments. , with nearly all new funding earmarked for medical care and mandatory benefits like disability payments. Discretionary program funding up by 4 percent , rising to approximately $134 billion. , rising to approximately $134 billion. $2.5 billion for the VA's Electronic Health Record Modernization program , doubling the prior year's allocation but still $1 billion short of the White House's ask. , doubling the prior year's allocation but still $1 billion short of the White House's ask. $18 billion in military construction funding, which includes $830 million for child development centers and barracks improvements. Policy changes include: A ban on abortion services and abortion-related counseling at VA facilities, unless the life of the mother is in danger. at VA facilities, unless the life of the mother is in danger. Ending the requirement for mandatory COVID-19 vaccination for VA health personnel. for VA health personnel. Restrictions on reporting veterans deemed financially incompetent to the national gun background check system, which Republicans have framed as a defense of Second Amendment rights. Democrats criticized the latter provisions. Florida Representative Debbie Wasserman Schultz, a Democrat, said in a statement the bill "needlessly fixates on keeping guns in the hands of those who are potentially a danger to themselves or others, and restricts reproductive rights." A stock image shows a U.S. flag patch on a soldier's uniform. A stock image shows a U.S. flag patch on a soldier's uniform. GETTY What People Are Saying House Appropriations Committee chairman Tom Cole said the bill "honors our commitment to those who've worn America's uniform and supports our military and their loved ones." "By providing critical funding for military bases and improving housing for our troops and their families, we are ensuring that our national defense needs are met both at home and abroad. We are also upholding our pledge to our veterans. This bill fully funds health care and benefits for those who have honorably served. They upheld their sacred oath to us—and now a grateful nation is keeping our promise to them. Today marks the start of our process and our work to fund the government. As this bill moves forward and considerations are made and debated, the pillars of the proposal won't change." Florida Representative Debbie Wasserman Schultz said in a statement: "This bill needlessly fixates on keeping guns in the hands of those who are potentially a danger to themselves or others, and restricts reproductive rights, and [includes] other cruel and pointless policy restrictions. I cannot tell those currently serving and those who defended our nation that this is the best we can do." What's Next The bill faces a tougher showdown in the Senate than it did in the House, where Democratic opposition and the filibuster rule will require bipartisan cooperation in order for it to pass.
Yahoo
10 hours ago
- Yahoo
Michiganders unite for veterans at Lansing rally
LANSING, Mich. (WLNS) — June 6 marks the anniversary of one of the largest seaborne invasions in history—D-Day, and in its honor, hundreds of Michiganders rallied in support of veterans who they say are facing an unprecedented attack on their benefits by the Trump administration. The event was hosted by several groups to help defend veterans from a series of cuts that they say could impact their benefits and livelihoods, as the Trump administration plans to slash about 80,000 jobs to reorganize the Department of Veterans Affairs. Many of these workers specialize in healthcare and other various services. Retired veterans, husband and wife Jerry and Dale Blunk are fighting back in hopes of change. 'The benefits I get keep me alive,' said Jerry Blunk. 'When you get hit with something, like you need a heart transplant or change an organ or some kind of operation, I can't afford that, except for the VA.' Jerry and his wife both go to the VA office in Saginaw for their medical and health needs. VA Secretary Doug Collins has defended the upcoming cuts, claiming they would not impact veterans' health care or benefits, but Dale Blunk says she's already seeing a shift. 'There's already been a slowdown to the number of appointments that there are,' said Dale Blunk. 'Lab times, getting stuff done, surgeries being done. All that is starting to slow down, and they've hardly even started the firing.' Dale says she feels that the cuts will lead to the VA becoming privatized, which she believes could result in higher costs for taxpaying Americans. Kurt Shanks, a retired Navy submarine veteran, says that although he hasn't had to use his benefits, he still wants to defend his fellow servicemen and women from losing something they've fought so hard to get. 'I had the safety of a submarine hull,' said Shanks. 'Yeah, we had our share of fun and danger, but nothing like the people out there who are truly risking their lives, and America owes them everything.' As the clock counts down on the VA cuts, Jerry Blunk fears his benefits could be on the chopping block. 'They may come along and say, 'Okay, we're gonna take the top 20% of the oldest retirees, and kick them the hell off the list,' said Jerry Blunk. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
