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The House of Representatives is set to vote once again on providing protections to banks that work with state-legal marijuana businesses.<\/p>\n
Rep. Ed Perlmutter (D-CO), sponsor of the Secure and Fair Enforcement (SAFE) Banking Act, filed the text of his bill as amendment last week<\/a>. On Tuesday, the House Rules Committee determined<\/a> the proposal to be in order, meaning it will be taken up by the full House for consideration to be attached to large-scale legislation on research and innovation in the tech and manufacturing sectors that is advancing.<\/p>\n The floor vote is expected later this week. If approved, it would mark the sixth time that Perlmutter\u2019s cannabis measure has advanced through the House in some form.<\/p>\n The congressman\u2019s last attempt to get the reform enacted through a massive defense bill, it was attached to the House legislation only to be stripped out following bicameral negotiations. Perlmutter put much blame for that defeat on Senate Majority Leader Chuck Schumer (D-NY), who has insisted that comprehensive legalization, like a bill he\u2019s expected to file soon, should move first before the incremental banking policy change.<\/p>\n On Tuesday, Perlmutter told the Rules Committee, of which he is a member, that he\u2019s planning to offer the SAFE Banking Act as an amendment to \u201cevery single bill I possibly can until it\u2019s passed\u201d and he acknowledged that his colleagues are probably \u201cbecoming all too familiar with\u201d the legislation in light of his repeated advocacy for it.<\/p>\n Rep. Tom Cole (R-OK), the panel\u2019s ranking member, chimed in to say that he supports the measure and looks forward to voting for it on the floor.<\/p>\n Along with Perlmutter, the cannabis financial services amendment is cosponsored by Reps. Nydia Vel\u00e1zquez (D-NY), Warren Davidson (R-OH), Barbara Lee (D-CA), Dave Joyce (R-OH) and Earl Blumenauer (D-OR).<\/p>\n \u2014 Learn more about our marijuana bill tracker<\/a> and become a supporter on Patreon<\/a> to get access. Schumer, for his part, did say in a meeting with equity advocates last week that he\u2019s open to passing cannabis banking reform if additional provisions were attached<\/a> that specifically benefit communities most impacted by prohibition.<\/p>\n Still, stakeholders have grown impatient with the leader\u2019s interference in passing the SAFE Banking Act given that it\u2019s considered a passable, bipartisan bill, whereas comprehensive legalization does not have a clear path in the Senate, even with a slim Democratic majority.<\/p>\n Perlmutter, meanwhile, is retiring from Congress after this session and has emphasized that he\u2019s committed to passing his bill first<\/a>.<\/p>\n It remains to be seen whether the America COMPETES Act will serve as a more effective vehicle for the cannabis banking bill than the National Defense Authorization Act (NDAA), where the language was successfully attached on the House side but later removed following negotiations with the Senate.<\/p>\n Even some Republicans are scratching their heads about how Democrats have so far failed to pass the modest banking reform with majorities in both chambers and control of the White House. For example, Rep. Rand Paul (R-KY)\u00a0criticized his Democratic colleagues over the issue<\/a>\u00a0last month.<\/p>\n In the interim, federal financial regulator Rodney Hood\u2014a board member and former chairman of the federal National Credit Union Administration (NCUA)\u2014recently said that marijuana legalization is not a question of \u201cif\u201d but \u201cwhen,\u201d and he\u2019s again offering advice on\u00a0how to navigate the federal-state conflict<\/a>\u00a0that has left many banks reluctant to work with cannabis businesses.<\/p>\n Older D.C. Patients Could Get Medical Marijuana Without Doctors And City Would Have 4\/20 Cannabis Tax Holiday Under Council Bill<\/a><\/p>\n<\/blockquote>\n\n The post Marijuana Banking Reform Cleared For House Floor (Again) Following Committee Action On Large-Scale Bill<\/a> appeared first on Marijuana Moment<\/a>.<\/p>\n
The House of Representatives is set to vote once again on providing protections to banks that work with state-legal marijuana businesses. Rep. Ed Perlmutter (D-CO), sponsor of the Secure and Fair Enforcement (SAFE) Banking Act, filed the text of his bill as amendment last week. On Tuesday, the House RulesContinue Reading<\/a><\/span><\/p>\n","protected":false},"author":458,"featured_media":52659,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[18,81],"tags":[],"_links":{"self":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/52658"}],"collection":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/users\/458"}],"replies":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/comments?post=52658"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/52658\/revisions"}],"predecessor-version":[{"id":52660,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/52658\/revisions\/52660"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media\/52659"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=52658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=52658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=52658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nRead More: Marijuana Banking Reform Cleared For House Floor (Again) Following Committee Action On Large-Scale Bill<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"