Senate Majority leader Chuck Schumer (DNY) said that a bipartisan cannabis banking bill was one of the top priorities for his chamber this year, ahead of the elections.
In a Wednesday press conference, Schumer answered a question about what he thought the Senate “really” could pass before November.
He stated that he hoped to pass the Secure and Fair Enforcement Regulation Banking Act (SAFER), as well as legislation on rail safety, insulin affordability and many other issues.
He said that many of the bills he had passed were bipartisan. “We’re going work hard on many things,” he added.
We are committed to the agenda we have set forth. He said that the supplemental funding is crucial. After that, we will turn to the many bills that were passed, such as the SAFER Act and safety on the railroads.
On Wednesday, the House of Representatives passed an appropriations bill that included several cannabis provisions such as protecting state medical pot programs against federal interference. The Senate will likely send it to the President’s desk by Friday night to avoid a shutdown.
Schumer suggests that marijuana bank legislation, which passed the Senate Banking Committee in September last year, may soon follow once the funding obstacle has been overcome.
Schumer stated in a speech on the floor of the 118th Congress that the lawmakers would “hit ground running” by 2024. He aimed to build upon bipartisan progress in several key areas, such as marijuana banking reform, though he acknowledged it “won’t be easy.”
Last week, Sen. Maria Cantwell (D-WA), became the 36th member to sign on to the SAFER Banking Act in addition to being its lead sponsor.
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It’s likely that the SAFER Banking Act will be amended if it makes it to the Senate floor in this year. Schumer, for example, has talked about the “moral obligation” to further amend it and add provisions on state legal cannabis expungements as well as gun rights for cannabis users.
A key legislator involved in the negotiations on cannabis legislation has recently indicated that they are nearing a deal. Last year, members of the group splintered over Section 10, which deals with general banking regulations and is not specific to the marijuana business.
Ed Perlmutter, former Colorado Rep., spoke to Marijuana Moment about his lobbying work for a national marijuana organization. He expressed “hope” that the momentum and time will allow for this measure to be implemented in 2018.
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The original Marijuana Moment article Schumer says Senate will ‘work very hard’ to pass Marijuana Banking bill before November election first appeared.
