From the opinion pages of the Wall Street Journal, this is Potomac Watch.

The Trump administration begins relaxing federal law on marijuana, moving medical uses from

Schedule 1 to Schedule 3, with tax implications that could feed the growing pot industry.

Meantime, as Spirit Airlines struggles to turn around its business,

President Trump suggests that federal government might step in to bail out or even buy the budget carrier.

Welcome, I'm Kyle Peterson with the Wall Street Journal.

We're joined today by my colleagues on the journal's opinion pages,

columnists Alicia Finley and Kim Strassel. President Trump has long promised to ease the federal

government's approach on marijuana. And on Thursday, the Department of Justice made a first move.

This is an order signed by Acting Attorney General Todd Blanche, which places

FDA-approved products and marijuana products regulated by a state marijuana medical license

in Schedule 3 of the Controlled Substances Act. The Controlled Substances Act has five schedules.

Marijuana currently is on the top classification. Schedule

1. This is for drugs with no currently accepted medical use, high potential for abuse. Other

substances on that list are LSD, peyote, and so forth. Schedule 3 is a much lower classification,

includes things like Tylenol with codeine, ketamine, animalic steroids, testosterone. Alicia, what do you make of the implications of this move,

at least so far, only for medical marijuana, though the Justice Department is also saying

it's going to have some hearings this summer on a broader classification for adult use or recreational use.

So the distinction here on it's only for medical marijuana. That's really a distinction

without a difference because the primary effect of this will be to provide some kinds of tax

benefits allow businesses in these states

that where marijuana is legalized to deduct their ordinary expenses, just like other companies.

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