Nearly a quarter of the members of the U.S. Senate are joining together to call on congressional leaders to ensure that marijuana banking provisions are enacted into law as part of a large-scale manufacturing bill. The 24 senators—including 19 Democrats and five Republicans—wrote in a letter that the Secure and Fair Enforcement (SAFE) Banking Act would “help cannabis-related businesses, support innovation, create jobs, and strengthen public safety in our communities.” The lawmakers, led by Sens. Jeff Merkley (D-OR) and Jacky Rosen (D-NV), want the marijuana provisions included in the America COMPETES Act, which a bicameral conference committee will discuss at its first meeting on Thursday. Noting that cannabis banking legislation has passed the House six times at this point, including as a standalone bill “garnering the support of more than three-quarters of the chamber and a majority of the members of each party,” the bipartisan group of senators said that finally getting the reform enacted into law has “demonstrated broad support.” “The cannabis industry has become a powerful job creator and a significant generator of tax revenue,” they wrote.
Tom Angell, Marijuana Moment, 05/12/2022 08:20:00