The SAFE Banking Act would let marijuana businesses access banking services and carry out transactions using credit cards, reducing the risk of robberies and theft.
The company behind a cannabis mega-factory in California is hoping federal legalization of the substance will allow it to expand distribution of joints, oils and edibles beyond the borders of the most populous U.S. state. Senate Majority Leader Chuck Schumer
who blocked its passage as part of the NDAA on the grounds that he preferred a broader marijuana reform proposal. While this year's edition of the NDAA has since passed both chambers without the SAFE Banking Act as an amendment and is thus no longer a viable legislative vehicle for the measure, it's possible that lawmakers may try again by attempting to add it to the omnibus spending bill that would fund the government for the rest of the fiscal year, which ends in September.
Marijuana plants grow at Greenlight Dispensaryâs cultivation plant in Kansas City, Mo. Voters in Missouri voted to legalize adult recreational marijuana use.Omnibus bills typically include about $1.5 trillion in discretionary spending for the federal government and include a number of pet projects and other priorities for lawmakers – so much so that it's often referred to as awhen considered near the end of the year given the "presents" it contains.
If the SAFE Banking Act isn't passed by the time the current Congress ends on January 3rd, the bill's proponents will have to begin anew next year. Senate Banking Committee Chairman Sherrod Brown told Punchbowl News that he wants to "take it up and get it through" both chambers in 2023 and noted that "there's interest in the Republican House."
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