As the year comes to a close, it seems there’s little talk within Congress about moving a cannabis industry banking access bill—with multiple key House and Senate lawmakers telling Marijuana Moment they haven’t heard anything about a plan to advance the modest reform anytime soon.
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. 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.
Sen. Bernie Moreno (R-OH), who is expected the carry the marijuana banking measure in his chamber this Congress, previously said that he imagined the bill would come up over the fall. Those comments came before the shutdown, however, and the bill has not yet been filed in either chamber for the current session.
Now, Sen. Jeff Merkley (D-OR), who has sponsored the legislation in prior sessions, tells Marijuana Moment that 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) said “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.”
Rep. Dina Titus (D-NV)—a co-chair of the Congressional Cannabis Caucus who recently pressed the Justice Department to account for a recently disclosed change to marijuana enforcement guidance for possession on federal lands—also told Marijuana Moment she has “not heard anything [about the bill] moving.”
However, she said it’s always possible that the reform could be incorporated into another legislative vehicle, and that supporters will “just keep pushing.”
Asked about the status of any recent talks around the banking issue, another Cannabis Caucus co-chair, Rep. Brian Mast (R-FL), said he’s heard of “none,” but he expects it to be taken up yet again in the new year.
The House has passed versions of the legislation seven times over recent sessions. It advanced out of committee in the Senate last Congress, but it was not taken up on the floor.
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,” he said. “I don’t hear that [the bill is moving], but it’s been tried before. It may succeed this year. I don’t know.”
The comments from the bipartisan and bicameral lawmakers come about a month after bipartisan senators said they remain eager to advance the marijuana banking measure—though there was disagreement about whether a possible decision from President Donald Trump to reschedule cannabis would open the door to passing additional reforms in Congress.
Sen. Steve Daines (R-MT), who’s been the lead GOP sponsor of that banking measure in past sessions, said he’s “not sure absolutely” whether moving marijuana from Schedule I to Schedule III of the Controlled Substances Act (CSA) would meaningfully affect how his colleagues approach the financial services legislation. He said “many senators hold strong opinions,” and “they keep those opinions separate from SAFE Banking.”
Unlike Daines, Sen. Ron Wyden (D-OR) said rescheduling would send a “huge message” to his colleagues about the need to “finally come up with a modern approach” to marijuana laws.
Moreno, for his part, said he did feel that Trump advancing rescheduling would be an “important domino” to advance the bipartisan cannabis banking legislation.
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Meanwhile, during a House Appropriations Committee markup in September, Rep. Betty McCollum (D-MN) criticized the exclusion of provisions to protect banks that work with state-licensed marijuana and hemp businesses from a key spending bill.
Relatedly, a bipartisan coalition of 32 state and territory attorneys general from across the U.S. recently called on Congress to pass a marijuana banking bill to free up financial services access for licensed cannabis businesses.
In January, the office of Rep. Dave Joyce (R-OH), who is again leading the effort on the House, told Marijuana Moment that he would be filing the cannabis banking legislation this session but that its introduction was “not imminent” as some earlier reports had suggested.
The LCB contributed reporting from Washington, D.C.
The post Marijuana Banking Bill Is ‘On The Back Burner,’ As Congressional Lawmakers See No Indication It’ll Advance Soon appeared first on Marijuana Moment.
