Don’t Expect Senate Marijuana Banking Vote Any Time Soon, Key Chairman Says

MJ moment

A key Senate chairman is tempering expectations about a vote in his panel on a bill to protect banks that work with state-legal marijuana businesses from being penalized by federal regulators. While the House approved the Secure and Fair Enforcement (SAFE) Banking Act this week along largely bipartisan lines, Senate Banking Committee Chairman Sherrod Brown (D-OH) said the proposal hasn’t won his support just yet “because I think we need to look at a number of things.” Meanwhile, the bill’s House sponsor, Rep. Ed Perlmutter (D-CO), says he’s open to changing the proposal in a way that’s amenable to the chairman if that helps to move it forward. Brown told that he’s been in talks with Senate Majority Leader Chuck Schumer (D-NY) on the issue “and will see where it goes.” Schumer told Marijuana Moment this week that he doesn’t think it is wise for the Senate to pass cannabis banking legislation before tackling more comprehensive reform, because the more modest proposal would likely attract Republican members and undermine efforts to get support for the broader legalization legislation he’s working on. In any case, Brown isn’t necessarily ruling out a vote on the SAFE Banking Act, sponsored by Sens. Jeff Merkley (D-OR) and Steve Daines (R-MT). But he says his panel has other priorities. “This committee’s been too much about Wall Street and not enough about housing, not enough about rural and urban affairs and people’s everyday economic lives, and that’s my focus,” Brown said. “I will look at this seriously. We’re not ready to move on it.” The senator said in February that he’s “willing” to advance marijuana banking reform, “but with it needs to come sentencing reform.” That said, he didn’t provide details in his latest comments about what particular reforms he’d want to include, saying “I’m…

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Source : Don’t Expect Senate Marijuana Banking Vote Any Time Soon, Key Chairman Says

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