Representatives of the cannabis industry are ramping up their lobbying efforts on Capitol Hill, urging lawmakers to take action on taxes that affect their industry.

The main request in meetings with members of Congress this week: overturning a regulation that prevents legal cannabis companies, in particular, from deducting operating expenses.

Members of the industry have been disappointed that the GOP tax overhaul passed in December did not clear away the regulation.

And while many don't expect legislative action this year, given the fall midterm elections, industry advocates are holding out hope for Democratic-sponsored bills that could see movement in 2019.

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Niv Elis ~ TheHill.com ~

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