While all of these reforms are of great importance to the US cannabis sector, one of them is being watched with a higher degree of anticipation. California- based cannabis lawyer Jennifer Fisher told Cannintelligence: "Definitely rescheduling is the most important for our clients, because it would result in the elimination of the 280E tax penalty, which, for the bottom line of many of our clients who are operating lawfully in the state, has been a major financial burden and a barrier to profitability." Fisher, who co-chairs law firm Goodwin's cannabis practice in San Francisco, was referring to a section of the US Internal Revenue Code currently preventing cannabis businesses from claiming credits and deductions for expenses they incur. While the penalty applies to companies trading in controlled substances under Schedule I and Schedule II, it would no longer concern these companies should cannabis be moved to Schedule III.