Dope New Mexico

cannabis news and dope stuff in new mexico

The Senate Committee Chair says that the Marijuana Banking Bill will pass ‘decisively’ next week, as more amendments are floated.

Sherrod Brown, the chairman of the Senate Banking Committee (D-OH), says that a bipartisan marijuana banking bill will be passed “decisively.” Senators are discussing possible changes on the path to its passage and anti-drug activists decry this reform as a safety hazard.

Brown said Ask a Pol Matt Laslo he expects a strong majority to approve the revised Secure and Fair Enforcement Regulation Banking Act.

The chairman stated that he doesn’t expect “many” amendments when the bill reaches the floor. Senate Majority leader Chuck Schumer (DNY) has promised to attach changes related state level cannabis expungements, and gun rights for medical marijuana patients. But beyond that Brown said that “there will enough agreement that the bill will remain together and we will make minor amendments.”

He mentioned another possible amendment relating to “a credit card bank issue,” however, it is unclear to what he refers.

After months of bipartisan negotiation, lawmakers have reached an agreement on the revised SAFER Banking Act. However, some issues still remain that may come to a head in the future.

Politico reported Thursday that certain members still have concerns about a section in the bill that deals with banking regulations. Rep. Blaine Luetkemeyer, a member the House Financial Services Committee has reportedly raised concern about changes to Section 10 which is intended to prevent discriminatory enforcement actions against politically controversial industries such as the firearms industry. The Banking Committee may see an amendment that would remove certain sections of Section 10 during their next markup.

Other Republican members including the lead GOP sponsor of SAFER Banking Act Sen. Steve Daines, (R-MT) appear satisfied with revisions that they were able secure during recent negotiations.

Daines’ office said in a Thursday statement that he is open to adding expungement provisions as Schumer proposed.

Daines and Sen. Cynthia Lummis, (R-WY), filed legislation Thursday that would prohibit federal agencies from rescheduling marijuana without the tacit approval of Congress.

Lummis, in a Wednesday statement introducing the bill, also spoke about her co-sponsorship with the SAFER Banking Act. She expressed her desire to use it as a tool to promote banking regulatory protections in Wyoming for the gun and energy industries.

She said that the SAFER Banking Act prevents federal bank regulators to order a bank or credit-union to close an account on the basis of reputation risk. This will protect energy companies, gun manufacturers and other businesses from daily attacks by leftists who threaten their livelihoods. All legal businesses should be able to access bank accounts. This legislation will ensure that the federal government does not pick winners and loser when it comes accessing financial services.

The senator also said to Ask a Pol she doesn’t personally want to see Wyoming legalize – in part because “it doesn’t smell” and “stinks”.

Jacky Rosen, meanwhile, remarked on Wednesday that Nevada “has been a leader” in the regulation of legal cannabis businesses. This industry has generated millions of dollars in revenue & thousands of jobs.”

She said, “I am proud to have helped introduce a bipartisan measure to provide legal cannabis businesses with the banking tools that they require.”

While these discussions are happening, a national antidrug group, which has been a staunch opponent of incremental banking legislation for years, is urging its members to contact their representatives and urge them to vote against SAFER Banking Act.

In an email sent out on Friday, Community Anti-Drug Coalitions of America argued that this legislation would allow banks to accept federally illegal proceeds of the sale of cannabis and set a precedent for other federally illicit industries to be able to access the banking system.

“Also, granting marijuana business access to the banking systems will make it easier to do business and exacerbating negative consequences such as increased traffic deaths, youth use rates, ER visitation, and hospitalization,” CADCA stated, encouraging supporters of the bill to send a letter to their representatives opposing it.

—

Marijuana Moment tracks more than 1,000 cannabis and drug policy bills that have been introduced in state legislatures, and Congress. Patreon supporters who pledge at least $25/month gain access to our interactive charts, maps and hearing calendar.

Discover more about our marijuana bills tracker. Become a Patreon supporter to gain access.

—

In an email blast sent in June, , the group that had previously used to oppose a bill in Congress legalizing cannabis, made arguments similar to those .

Schumer sent a second email to supporters on Tuesday, asking them to join him in calling for the federal government’s legalization of marijuana.

No marijuana legalization bills have been introduced on the Senate’s side so far in this session. Schumer did champion a comprehensive reform bill which ultimately failed to advance during the previous Congress.

A bill that would legalize, tax, and regulate marijuana was introduced by House Democrats Wednesday. Its prospects are bleak, however, given that the GOP controls the chamber.


Where Donald Trump, the presidential candidate, stands on marijuana


Image courtesy of Chris Wallis/Side Pocket Images.

The article Marijuana Banking Act Will Pass ‘Decisively,’ Senate Committee Chair Says as More Amendments are Floated first appeared on Marijuana Moment.

Kyle Jaeger
Author: Kyle Jaeger

Terms and Conditions - Privacy Policy