Sen. Cory Booker, (D-NJ), says lawmakers are “resurrecting” a package a marijuana reform legislation that was passed during the last session. He acknowledges that failure to pass a banking solution for the cannabis industry will “literally mean that hundreds of companies go out of business.”
After a hearing of the Senate Judiciary Committee on Thursday on unrelated topics, advocates with the non profit Minorities for Medical Marijuana approached Booker and urged him to push for the passage of the Secure and Fair Enforcement Banking Act (SAFE), which would free up financial services for cannabis business owners.
Thank you Senator @CoryBooker, for hearing and understanding our request. Together, we can make a big difference. #safebanking #HAPPY420 pic.twitter.com/95rVkqK2Wu
Minorities4MedicalMJ 20 April 2023 HTML0
Booker was told by MMM’s founder Roz McCarthy: “We understand that you are a supporter of social justice, but it is important to be realistic about what will happen.” “This is the situation we’re in right now, but what can we do?
Booker, who was initially criticized by certain stakeholders and advocates for insisting on SAFE Banking without equity-focused provisions in the legislation, stated that he and his colleagues had secured a “good deal” last Congress, but that it “got stomped right at the line.”
He said that the package of reforms, which included provisions for expungements and banking, was “almost there.” “We are trying to revive it and get it passed this Congress, because if we wait another two-years, hundreds of businesses will go out of business,” he said.
The senator also filed a comprehensive cannabis legalization bill with Senate Majority Leader Chuck Schumer, (D-NY), last year. He said that his staff and he are working to ensure people who have been disproportionately affected by prohibition “have economic opportunity,” while acknowledging that “right now, scorecard is terrible.”
Booker expressed his frustration at the federal prohibition as well as what he viewed to be the deficiencies of state-level legalization legislation. He recently said that reforms had not produced the “democratizing effect” that he hoped for, but he also acknowledged that federal laws contribute to the disparities in the cannabis industry.
He has also described marijuana as a “dangerous substance”, which he wants to regulate and legalize.
Schumer also pledged to work toward this goal in a speech delivered on 4/20 at an event held inside the Capitol Building Thursday.
Schumer expressed his disappointment that the marijuana banking and expungements package he worked on in 2013 did not advance. He stated that “we were close,” but that “we ran into resistance in the last moment.”
The majority leader stated, “Until we achieve our goal, I will be in your corner working like hell to bring federal cannabis policy up to date,” We will need you to continue to reach out to both parties in both chambers, especially the Republicans, so we can progress on cannabis reform.
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In the first months of the new Congress, Schumer has met with Democratic members and Republican members to discuss marijuana reform proposals which might be able to garner bipartisan support this year.
In the weeks leading up to the 4/20 holiday, several cannabis bills were also filed, although lawmakers did not explicitly state that they had been related to the day.
Rep. Brian Mast, R-FL, introduced legislation Thursday that would protect Second Amendment rights for people who use marijuana legally in states. This would allow them to buy and possess firearms, which they are currently prohibited to have under federal law.
Reps. Dave Joyce, R-OH and Alexandria Ocasio Cortez, D-NY have introduced a bill that would provide federal grants to encourage state and local marijuana expulsions.
Earl Blumenauer, co-chair of the Congressional Cannabis Caucus (D-OR), filed a bill this week to give state-legal cannabis companies access to federal tax deductions available to other industries. He told Marijuana Moment Wednesday that he believed reform would eventually generate revenue to the government.
Bipartisan lawmakers in the House and Senate re-filed bills on Wednesday to legalize marijuana for veterans.
Last week, Hakeem Jeffreys (D-NY), the House Minority Leader, and Joyce filed a bill to help prepare the federal government to legalize marijuana. The measure directs the Attorney General to create a commission that will study cannabis and make recommendations on how to regulate it in a similar way to alcohol.
Colorado Senators approve Psychedelics Regulating Bill with Amendments in Committee
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