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The U.S. House of Representatives on Wednesday preliminarily approved an amendment that would protect banks that work with state-legal marijuana businesses. But while the measure was procedurally adopted in a voice vote without debate as part of an en bloc package with other amendments, a roll call vote was requested for formal passage, which is expected on Thursday.<\/p>\n
Rep. Ed Perlmutter (D-CO) has been seeking potential vehicles for his Safe and Fair Enforcement (SAFE) Banking Act, which has previously cleared the chamber five times in some form. His latest attempt is to attach the measure to large-scale innovation and manufacturing legislation that\u2019s now advancing through Congress.<\/p>\n
Following roll call votes on amendments on Thursday, floor action to officially pass the comprehensive bill known as the America COMPETES Act is planned by the end of the week.<\/p>\n
The banking amendment was first made in order by the Rules Committee for House consideration<\/a> on Tuesday.<\/p>\n \u2014 This legislative narrative is familiar to advocates and stakeholders who have been pushing for the SAFE Banking Act as a modest step toward reforming federal marijuana laws. Perlmutter previously tried to get the policy change enacted through a large-scale defense bill, but the language was stripped following bicameral negotiations<\/a>.<\/p>\n The congressman shifted much of the blame on Senate Majority Leader Chuck Schumer (D-NY), who has insisted on advancing comprehensive legalization legislation like the bill he\u2019s finalizing before moving the banking bill.<\/p>\n The Senate already passed its related version of the new innovation bill, with a focus on competing with China trade, and that legislation does not contain the cannabis banking language. What that means is that there will likely be another round of\u00a0 bicameral negotiations that could decide the fate of the marijuana reform through this latest vehicle.<\/p>\n At Tuesday\u2019s Rules Committee hearing, Perlmutter said 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 I’m glad to see #SAFEBanking<\/a> included in #AmericaCOMPETES<\/a> and look forward to it again passing the House as part of the package later this week. https:\/\/t.co\/Tm5Wr7oWj3<\/a><\/p>\n \u2014 Rep. Ed Perlmutter (@RepPerlmutter) February 2, 2022<\/a><\/p>\n<\/blockquote>\n\n While Schumer may have played a key role in blocking SAFE Banking through the National Defense Authorization Act late last year after the House attached the cannabis language to its version of the bill, he 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>\u00a0that 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\u00a0committed to passing his bill first<\/a>.<\/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 Nearly One In Ten New Missouri Jobs Came From Medical Marijuana Industry In 2021, Trade Group Report Finds<\/a><\/p>\n<\/blockquote>\n\n The post House Approves Marijuana Banking On Voice Vote Without Debate, But Roll Call For Final Approval Expected Thursday<\/a> appeared first on Marijuana Moment<\/a>.<\/p>\n
The U.S. House of Representatives on Wednesday preliminarily approved an amendment that would protect banks that work with state-legal marijuana businesses. But while the measure was procedurally adopted in a voice vote without debate as part of an en bloc package with other amendments, a roll call vote was requestedContinue Reading<\/a><\/span><\/p>\n","protected":false},"author":458,"featured_media":52685,"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\/52684"}],"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=52684"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/52684\/revisions"}],"predecessor-version":[{"id":52686,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/52684\/revisions\/52686"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media\/52685"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=52684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=52684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=52684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nRead More: House Approves Marijuana Banking On Voice Vote Without Debate, But Roll Call For Final Approval Expected Thursday<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"