by Austin Hein
It has been almost a full year since the 2018 Farm bill was signed into law by President Trump. One of the few good provisions of that bill legalized the production of hemp. This is especially good for a state like Wyoming, which has the opportunity to capitalize on this new and exploding market. Unfortunately, as it was reported in the Casper Star Tribune, federal regulations are still in the way of Wyoming producing hemp.
In true federal government fashion, the United States Department of Agriculture (USDA) has been slow in responding to hemp plans as required in the 2018 farm bill. This means that farmers will be unable to plant hemp until next year at the earliest. All this is a perfect example as to the harms of red tape and government bureaucracy.
It is no secret that the Wyoming economy is still struggling from the 2008 recession and has yet to experience full recovery. Meanwhile, the state government is seeking to "diversify" the economy by means of subsidies and grants at the expense of the taxpayers. I have been adamant that deregulation and free market capitalism are key factors in economic growth, and that cannot be more apparent in the case of hemp and the USDA.
This is one area where Governor Gordon could have been more aggressive in working with the USDA to expedite the legalization process. If diversification and economic growth is a top priority of this administration, then the Governor should be on offense when it comes to tackling regulations. Who knows how much money farmers are missing out on because of this delay.
For all intents and purposes, hemp legalization could be a large economic boost in our state's farming sector. Hemp is a versatile plant that can be used in a wide variety of products. Wyoming can and should capitalize on the exploding hemp market, but unfortunately federal ineptitude stands in the way.
Economic opportunity comes through deregulation. This does not just simply apply to the hemp market, but rather the whole of the Wyoming economy. Wyoming lawmakers should keep a close eye on the hurdles the hemp industry is facing. Lawmakers should apply this lesson and look for more hurdles to Wyoming businesses that can be removed.