{"id":77853,"date":"2024-09-17T09:26:13","date_gmt":"2024-09-17T17:26:13","guid":{"rendered":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/2024\/09\/17\/key-senator-tours-marijuana-business-and-promotes-banking-bill-amid-growing-industry-frustration-over-inaction\/"},"modified":"2024-09-18T19:46:30","modified_gmt":"2024-09-19T03:46:30","slug":"key-senator-tours-marijuana-business-and-promotes-banking-bill-amid-growing-industry-frustration-over-inaction","status":"publish","type":"post","link":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/2024\/09\/17\/key-senator-tours-marijuana-business-and-promotes-banking-bill-amid-growing-industry-frustration-over-inaction\/","title":{"rendered":"Key Senator Tours Marijuana Business And Promotes Banking Bill Amid Growing Industry Frustration Over Inaction"},"content":{"rendered":"<\/p>\n

As marijuana industry stakeholders continue to await Senate floor action on a bipartisan marijuana banking bill\u2014with some feeling emboldened by former President Donald Trump\u2019s recent endorsement of the reform<\/a>\u2014a key Democratic senator is reiterating the need to advance the legislation as a public safety imperative, promoting it in a video where he tours an Ohio cannabis business.<\/p>\n

Senate Banking Committee Chairman Sherrod Brown (D-OH) shared a pair of videos on X on Friday showing him touring the cannabis company Firelands Scientific, learning about their seed-to-sale process as one of the first businesses in Ohio to received a certification to work with both medical and adult-use markets since the state started approving dual licenses last month.<\/p>\n

He took the opportunity to promote a bill\u2014the Secure and Fair Enforcement Regulation (SAFER) Banking Act\u2014that cleared his committee last September but is still pending action on the Senate floor.<\/p>\n

Brown said that \u201ccannabis industry workers face security and safety concerns due to their limited access to financial services,\u201d which is \u201cwhy we\u2019re working on passing the SAFER Banking Act.\u201d<\/p>\n

\u201cThis bill will make it safer for legal cannabis businesses to operate in their communities and to protect their workers,\u201d he said.<\/p>\n

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We stopped by Firelands Scientific in Huron to hear from cannabis workers about how we can make it safer for them to operate in Ohio and protect workers. pic.twitter.com\/pjYeAH8kcx<\/a><\/p>\n

\u2014 Sherrod Brown (@SherrodBrown) September 13, 2024<\/a><\/p>\n<\/blockquote>\n

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The posts got some pushback from industry insiders and investors who have grown increasingly frustrated with the lack of progress on the legislation since its committee passage. While Brown facilitated a historic committee vote on SAFER last year\u2014and he does not control the floor agenda\u2014Senate Democrats have widely faced criticism from many in the sector over the perception that they want to associate themselves with the popular issue of cannabis reform but have yet to deliver on it.<\/p>\n

Senate Majority Leader Chuck Schumer (D-NY) has borne the brunt of that criticism in recent years, with critics quick to challenge his repeated statements that the marijuana banking legislation is a priority for Democrats in the chamber and that it would be taken up on the floor \u201csoon.\u201d<\/p>\n

But while Schumer does set the floor agenda, there have been a number of political and logistical complications such as partisan infighting over must-pass appropriations bills, staunch resistance to marijuana reform from certain GOP leaders, disputes over various provisions of the banking measure and lingering questions about its prospects in the GOP-controlled House.<\/p>\n

Many would like to see a Senate roll call vote on the bill before the end of this Congress\u2014at the very least so members are forced to go on the record amid conflicting reports about whether it has enough support to reach the steep 60-vote threshold to advance to passage. But if it were to fail, some feel that setback could prove all the more damaging to its long-term prospects of success.<\/p>\n

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Because of the passage of Issue 2 last fall, several Ohio businesses can now sell recreational marijuana. pic.twitter.com\/EbO7d6HOCj<\/a><\/p>\n

\u2014 Sherrod Brown (@SherrodBrown) September 13, 2024<\/a><\/p>\n<\/blockquote>\n

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Marijuana Moment reached out to Schumer\u2019s office for comment, but representatives did not respond by the time of publication.<\/p>\n

Brown, for his part, told Marijuana Moment last week that \u201cwe don\u2019t have enough Republicans, we don\u2019t think.\u201d<\/a><\/p>\n

\u201cWe\u2019re trying to figure out how to move these things when we have a Republican party that doesn\u2019t always step up,\u201d he said, noting opposition from Sen. Tim Scott (R-SC), ranking member of the Banking Committee. That said, since it already moved through that panel, it\u2019s unclear why that would represent a major obstacle to bringing it to the floor.<\/p>\n

Of course, bills of any virtually any kind tend to face uphill battles in election years, especially one as contentious as this November\u2019s and during a divided Congress. But in an unexpected turn of events, Trump, the GOP presidential nominee, came out in favor of marijuana industry banking access this month. He also backed federal rescheduling and a Florida marijuana legalization ballot initiative, making this the first time in U.S. history where both major party nominees are supporting meaningful cannabis reform. Vice President Kamala Harris hasn\u2019t spoken about the issue since accepting the nomination, but she\u2019s previously advocated for federal legalization.<\/p>\n

Brown said last week that he hasn\u2019t been following the presidential campaigns closely enough to have formed an opinion about Trump\u2019s cannabis policy pivot. But some see a critical opportunity in the development, possibly moving the needle for certain of the former president\u2019s allies in Congress enough to bring them into the \u201cyes\u201d category on SAFER Banking.<\/p>\n

Rep. Earl Blumenauer (D-OR), co-chair of the Congressional Cannabis Caucus, is among those hoping to leverage this latest example of bipartisan momentum to move on marijuana reform. He said in a letter to House Speaker Mike Johnson (R-LA) on Monday that the cannabis banking bill is one example of a measure that should be brought to the floor<\/a> imminently following Trump\u2019s statement, as well as recent reporting about unearthed audio where former President Richard Nixon could be heard\u00a0conceding that cannabis is \u201cnot particularly dangerous.\u201d<\/a><\/p>\n

\u201cI would suggest moving policies that, instead of further dividing us, makes a difference for the American people, including for our veterans, law enforcement, small businesses, and more,\u201d the congressman, who is retiring at the end of this Congress, said. \u201cIt\u2019s never too late to do the right thing.\u201d<\/p>\n

Whether Johnson would be willing to take the congressman\u2019s advice remains to be seen, however. Prior to becoming speaker, Johnson consistently opposed cannabis reform<\/a>, including on incremental issues like cannabis banking and making it easier to conduct scientific research on the plant.<\/p>\n

Meanwhile, Sen. John Hickenlooper (D-CO) separately told Marijuana Moment in a recent interview that if Trump is serious about his recently stated support for the SAFER Banking Act, he needs to \u201cbring us some Republican senators\u201d to advance it through the chamber<\/a>.<\/p>\n

Hickenlooper said that while he hadn\u2019t been appraised on the latest Trump remarks on cannabis banking at the time, he\u2019s skeptical about how serious the former president is in the position, commenting that \u201cit might change by tomorrow\u201d given his proclivity for rapidly taking on opposite sides of various issues.<\/p>\n

He added that the SAFER Banking Act is \u201cgoing through this process,\u201d but he also said the Biden administration\u2019s push to federally reschedule cannabis represents \u201ca major step forward\u201d that could help grease the wheels on marijuana banking reform.<\/p>\n

\u201cI think rescheduling is going to get SAFE Banking through the Senate,\u201d the senator said. \u201cDonald Trump can say whatever he wants, but unless you bring us some Republican senators, we\u2019re not going to get SAFE Banking.\u201d<\/p>\n

There\u2019s been sizable skepticism about the sincerity of Trump\u2019s newfound cannabis position, including among bipartisan lawmakers.<\/p>\n

For example, Reps. Alexandria Ocasio-Cortez (D-NY) and Andy Harris (R-MD) argued recently that the policy pivot amounts to a campaign ploy to attract voters ahead of the November election. Harris\u2019s campaign has also\u00a0recently accused Trump of lying about his support for marijuana reform<\/a>, stating that his \u201cblatant pandering\u201d runs counter to his administration\u2019s record on cannabis.<\/p>\n

\u201cAs president, Trump cracked down on nonviolent marijuana offenses\u2014undermining state legalization laws, opposed safe banking legislation, and even tried to remove protections for medical marijuana,\u201d Harris campaign spokesperson Joseph Costello said. \u201cDonald Trump does not actually believe in marijuana reform, but the American people are smart enough to see through his campaign lies.\u201d<\/p>\n

While the campaign seems willing to call out Trump on his marijuana platform, it has so far declined to detail the Democratic nominee\u2019s own position\u2014even though she privately\u00a0reaffirmed her support for legalization during a roundtable event at the White House event<\/a>\u00a0with marijuana pardon recipients in March and also sponsored a bill to end federal prohibition during her time in the Senate.<\/p>\n

Advocates have also taken notice that a new, long-awaited issues page launched by the Harris campaign\u00a0omits any mention of marijuana policy reform<\/a>\u00a0despite her record promoting comprehensive legalization.<\/p>\n

Rep. Nancy Mace (R-SC), who is sponsoring a bill to federally legalize marijuana called the States Reform Act, separately said that while\u00a0she hoped Trump would back the Biden administration\u2019s rescheduling move<\/a>, she also said part of the reason Republicans in Congress have declined to embrace marijuana policy change is because they\u2019re \u201cafraid of it.\u201d<\/p>\n

Trump also recently\u00a0went after Harris over her prosecutorial record on marijuana<\/a>, claiming that she put \u201cthousands and thousands of Black people in jail\u201d for cannabis offenses\u2014but the full record of her time in office is more nuanced.<\/p>\n

Trump\u2019s line of attack, while misleading, was nonetheless notable in the sense that the GOP presidential nominee implied that he disagrees with criminalizing people over marijuana and is moving to leverage the idea that Harris played a role in racially disproportionate mass incarceration.<\/p>\n

For what it\u2019s worth, the Congressional Research Service (CRS) released a report last month explaining that federal marijuana rescheduling is \u201cunlikely\u201d to improve banking access<\/a>\u00a0for state-legal cannabis businesses, But Blumenauer similarly argued that the reclassification move, when it is enacted, could have a political effect that spurs action on the separate marijuana banking legislation.<\/p>\n

It should also be noted that the proposed rescheduling action isn\u2019t guaranteed. Following a public comment period, the Drug Enforcement Administration (DEA) last month\u00a0announced that it has scheduled an administrative hearing in December<\/a>\u00a0to gain additional input before potentially finalizing the rule. It\u2019s possible that rulemaking could extend into January, meaning there\u2019s a chance that the next presidential administration could influence the final outcome.<\/p>\n

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Biden Acknowledges That Marijuana Rescheduling Isn\u2019t A Done Deal Yet As He Touts Administration\u2019s Reform Efforts<\/a><\/p>\n<\/blockquote>\n

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The post Key Senator Tours Marijuana Business And Promotes Banking Bill Amid Growing Industry Frustration Over Inaction<\/a> appeared first on Marijuana Moment<\/a>.<\/p>\n


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As marijuana industry stakeholders continue to await Senate floor action on a bipartisan marijuana banking bill\u2014with some feeling emboldened by former President Donald Trump\u2019s recent endorsement of the reform\u2014a key Democratic senator is reiterating the need to advance the legislation as a public safety imperative, promoting it in a videoContinue Reading<\/a><\/span><\/p>\n","protected":false},"author":458,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[18,81,126],"tags":[],"_links":{"self":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/77853"}],"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=77853"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/77853\/revisions"}],"predecessor-version":[{"id":77854,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/77853\/revisions\/77854"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=77853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=77853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=77853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}