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A GOP-controlled House committee has voted to strip marijuana banking protections from a large-scale spending bill.<\/p>\n
While the legislation as introduced and approved by a subcommittee included language to prevent certain federal regulators from penalizing financial institutions simply for working with state-legal cannabis businesses, that was removed on Thursday by the full House Appropriations Committee.<\/p>\n
Rep. Dave Joyce (R-OH)\u2014co-chair of the Congressional Cannabis Caucus, lead sponsor of standalone bipartisan marijuana banking legislation and the chairman of the relevant subcommittee\u2014had secured the banking language in the base bill prior to its removal.<\/p>\n
But the House Appropriations Committee on Thursday approved a GOP en bloc amendment to the Financial Services and General Government (FSGG) legislation that included a provision to eliminate that section from the bill.<\/p>\n
\u201cWith over 40 states enacting some degree of cannabis reform, it is past time that the federal government respect the will of these states,\u201d Joyce said in a statement on Thursday. \u201cThis issue is especially pertinent as cannabis regulations have been proven to increase public safety and quality of life for Americans.\u201d<\/p>\n
\u201cMy Financial Services and General Government bill included provisions to do just that and ensure states\u2019 rights to make the best choices for their unique constituencies are protected. Unfortunately, some of my colleagues have taken issue with these public safety measures,\u201d he said.<\/p>\n
\u201cWhile the provisions maintain strong bipartisan support, as chairman, I will work to alleviate their concerns but will not delay my responsibility to fund the government and therefore my legislation in the meantime,\u201d Joyce said. \u201cHowever, let me be clear, I will not abandon this effort in Congress and will continue to work with my colleagues in good faith to ensure they become law.\u201d<\/p>\n
Rep. Steny Hoyer (D-MD) spoke out against the en bloc amendment, taking aim at the removal of the marijuana banking protections. He said he \u201cstrongly\u201d supports the provision, noting that the full House has passed standalone cannabis banking legislation \u201cpretty handily\u201d on several occasions.<\/p>\n
\u201cThat provision allows people to not have to hide their money that they earn legally in the mattress, and can avail themselves of the facilities of federal banks,\u201d Hoyer said.<\/p>\n
Joyce said he \u201ctruly\u201d appreciates Hoyer\u2019s support for the reform, but said it \u201cwas withdrawn from this bill, and we\u2019ll hope to exercise this on the floor at some time in the near future.\u201d<\/p>\n
\u201cI can\u2019t wait for the opportunity,\u201d Hoyer replied.<\/p>\n
The text of the cannabis banking provision, which advanced out of the House Appropriations FSGG Subcommittee<\/a> earlier this month, read:<\/p>\n SEC. 134.<\/strong>\u00a0None of the funds made available by this Act may be used to penalize a financial institution solely because the institution provides financial services to an entity that is a manufacturer, a producer, or a person that participates in any business or organized activity that involves handling hemp, hemp-derived cannabinoid products, other hemp-derived cannabinoid products, marijuana, marijuana products, or marijuana proceeds, and engages in such activity pursuant to a law established by a State, political subdivision of a State, or Indian Tribe. In this section, the term \u2018\u2018State\u2019\u2019 means each of the several States, the District of Columbia, and any territory or possession of the United States.<\/p>\n Rep. Chuck Edwards (R-NC) said last week that was was \u201coverwhelmingly concerned\u201d with the cannabis banking section, and he threatened to file an amendment to strip the language.<\/a><\/p>\n Joyce told Marijuana Moment last week that \u201cforcing cannabis businesses to operate in all cash is a magnet for violent crime,\u201d adding that his legislation before being revised \u201cremedies these issues by further safeguarding the safe, adult use of cannabis and increasing the safety of cannabis businesses and their employees.\u201d<\/p>\n Meanwhile, the FSGG spending legislation as introduced still omits a longstanding rider from prohibitionist Rep. Andy Harris (R-MD) that\u2019s blocked D.C. from using its local tax dollars to legalize recreational marijuana sales.<\/p>\n The same appropriations subcommittee under Democratic control similarly omitted the D.C. cannabis sales ban and included the banking section<\/a>\u00a0in a spending bill for fiscal year 2022, but it did not make it into the final package.<\/p>\n A report attached to the underlying FSGG bill also calls on federal agencies to study state marijuana regulatory frameworks<\/a>\u00a0and continue to reconsider federal hiring guidelines related to cannabis use by applicants living in states where it\u2019s legal.<\/p>\n \u2014 Separately, the House Rules Committee on Wednesday blocked all proposed marijuana amendments<\/a>\u2014some that were pro-reform and others that were anti-reform\u2014from floor consideration as part of a large scale defense bill. That means a measure included in the base bill to\u00a0prevent military branches from testing recruits for cannabis<\/a>\u00a0as a condition of enlistment has been left intact, despite opposition from the White House.<\/p>\n The legislation also includes report language to follow up on provisions in the most recently enacted NDAA that provide funding for\u00a0DOD-led clinical trials on the therapeutic potential of psychedelics<\/a>\u00a0for active duty military service members.<\/p>\n New Hampshire Senate Approves Marijuana Legalization Bill, With Final House Vote Expected Later Today<\/a><\/p>\n<\/blockquote>\n\n Photo courtesy of Philip Steffan<\/a>.<\/em><\/p>\n The post Congressional Committee Strips Marijuana Banking Protections From Key Spending Bill<\/a> appeared first on Marijuana Moment<\/a>.<\/p>\n
A GOP-controlled House committee has voted to strip marijuana banking protections from a large-scale spending bill. While the legislation as introduced and approved by a subcommittee included language to prevent certain federal regulators from penalizing financial institutions simply for working with state-legal cannabis businesses, that was removed on Thursday byContinue Reading<\/a><\/span><\/p>\n","protected":false},"author":458,"featured_media":76301,"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\/76300"}],"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=76300"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/76300\/revisions"}],"predecessor-version":[{"id":76302,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/76300\/revisions\/76302"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media\/76301"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=76300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=76300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=76300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nRead More: Congressional Committee Strips Marijuana Banking Protections From Key Spending Bill<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"