WASHINGTON–As another session of Congress comes to a close it does so once again by not moving forward legislation that would permit banking services for cannabis-related businesses.
Marijuana Moment reported it spoke with multiple House and Senate offices and heard nothing about any “plan to advance the modest reform anytime soon.”
Credit unions have long supported the repeal of federal laws that make it illegal to provide financial services to cannabis businesses.
“Of course, after a historically long government shutdown and other competing priorities, it doesn’t come as a big surprise that legislators wouldn’t have the Secure and Fair Enforcement (SAFE) Banking Act at the top of their lists,” Marijuana Moment reported. “But even so, the apparent lack of any meaningful progression in conversations about the proposal among lawmakers who have historically led on cannabis reform issues is notable.”
On the Back Burner’
Sen. Jeff Merkley (D-OR), who has sponsored the legislation in prior sessions, told Marijuana Moment the issue is among those Congress that has put “on the back burner,” with Democrats focused on preserving health care subsidies under the Affordable Care Act.
On the House side, Rep. Lou Correa (D-CA) told the publication, “it feels like I’ve heard nothing” about the path forward for SAFE Banking, and he feels “by now we should’ve had some buzz on it.”
‘The Will of the Chamber’
One of the most proactive anti-cannabis lawmakers on Capitol Hill, Rep. Andy Harris (R-MD), told Marijuana Moment that he’s not sure about the status of the banking bill but he remains of the mind that, “if it’s illegal at the federal level, it should be kept out of the banking system. But it’s the will of the chamber. My position hasn’t changed. I don’t hear that [the bill is moving], but it’s been tried before. It may succeed this year. I don’t know.”
