Schumer Stresses "Moral Responsibilities" of Adding Criminal Justice to Marijuana Bank Bill as Republicans Push for Floor Vote

Senate Republicans are undeterred by the new anti-marijuana House Speaker, and say they will move forward on the bill.

In a constituent letter to cannabis industry investor Todd Harrison, the majority leader said he wants to fold in criminal justice revisions that he hopes to borrow from a separate federal legalization bill he’s sponsored–mentioning expungements as he’s done in the past but also citing in the letter additional measures such as resentencing for current federal cannabis prisoners.

In a constituent’s letter to cannabis investor Todd Harrison the majority leader stated that he wanted to incorporate criminal justice revisions of a separate legalization measure into the Secure and Fair Enforcement Regulation Banking Act which was approved by committee in September and is now awaiting floor action. In a constituent letter to cannabis industry investor Todd Harrison, the majority leader said he wants to fold criminal justice revisions from a separate legalization bill into the a href=”https://www.marijuanamoment.net/watch-live-a-u-s-senate-committee-is-voting-on-a-marijuana-banking-bill/” rel=”noopener” target=”_blank”>Secure and Fair Enforcement Regulation (SAFER/a>SAF

He also mentioned various components of a broader legalization measure he has sponsored, the Cannabis Administration and Opportunity Act. (CAOA).

#SAFEBanking pic.twitter.com/nH3vFPsCbj

Todd Harrison (@todd_harrison 1 November 2023

There’s no way to know when this will happen. But Republican SAFER Banking sponsor Senator Steve Daines (R – MT) told Politico his caucus was “still moving ahead” with the reform. This is despite uncertainty about how the new GOP House Speaker will approach the matter, given his previous opposition to all cannabis measures he had the chance to vote on.

Daines stated, “We are working with our House counterparts who have the companion legislation to get alignment between the two chambers.”

According to Sen. Cynthia Lummis, R-WY, “I don’t believe that it will make any difference if the new speaker is against it,” and that it is ultimately Schumer’s responsibility to schedule a vote on the floor.

Schumer has also repeatedly discussed amending the SAFER Banking Act in order to include provisions that would encourage state-level expungements, and protect gun rights for cannabis users. But he cast a wider net when he mentioned other CAOA provisions, such as the ability for “those serving time for federal, non-violent marijuana offenses to petition a judge for a resentencing.”

He said that “we have a responsibility as members of Congress to undo all the damage done by the War on Drugs.” “I will continue to work with my colleagues in order to pass sensible cannabis legislation, and to ensure that criminal justice measures like those in CAOA become part of the SAFE Banking Act once it is passed on the floor.”

The letter states: “You will be pleased to know that I support the reforms made in the SAFE Banking Act.” “I also think that any move towards legalization must address equity and criminal-justice reform, which SAFE Banking does not.”

Marijuana Moment contacted Schumer’s Office to clarify the extent of the potential criminal justice provisions that he is considering in relation to the Banking Bill, and whether or not his new letter meant he would be pushing for both expungements and resentencing. A representative did make a comment, but it was delayed.

The SAFER Banking Act is likely to be amended only if it’s brought up on the floor of the House. It’s not clear when this will happen. The bill was largely put on hold amid the chaos in the House. After Rep. Kevin McCarthy, R-LA, was removed and replaced by Rep. Mike Johnson, R-LA for three weeks.

Before the Speakership Debacle, Steve Daines, the GOP sponsor (R-MT) had informed an industry executive that the legislation would be held until legislators could confirm that there was sufficient support in the House. Johnson’s election made the path more difficult, since the speaker had voted against many marijuana bills, such as previous versions of the incremental bank measure. McCarthy, on the other hand, opposes marijuana legalization and voted in favor of SAFE Banking Act.

Senate committee’s consideration of the bill was already delayed during the summer due to partisan disagreements over a section that Republicans including Daines favored. This section, they claim, would prevent federal financial regulators from discriminating against industries such as firearms.

Even though lawmakers have negotiated a revised version of the SAFER Banking Act that retains and expands Section 10, this is still an important consideration in bipartisan discussions. Rep. Blaine Luetkemeyer, R-MO, who is a member the House Financial Services Committee which oversees the SAFER Banking Act has expressed concerns over the language. This indicates that more work needs to be done in order to achieve a bipartisan consensus.

Sen. Chuck Grassley, (R-IA), sent a letter in September to Schumer to express his concern over the Senate’s “ongoing priority of legislation relaxing marijuana laws over a different measure that the GOP senator prefers to permanently ban fentanyl analogs.

Cotton, a Republican from Arkansas, is also stirring up the pot about the cannabis banking bill. He has inflated Schumer’s floor remarks in September regarding the plans of the majority leader to amend the legislation to include “criminal justice” provisions.

Additionally, Sens. Pete Ricketts, John Cornyn, Ted Budd and James Lankford sent a letter recently to the Senate leadership arguing that the SAFER Banking Act will result in cannabis products with higher potency that are harmful to children and would compromise the integrity of “the United States banking system”.

According to a survey, only 1 in 10 congressional staffers believe that the marijuana banking legislation will be passed by this year. This is a different outlook from those who have been encouraged by the bipartisan momentum.