Key Senate Chair Shifts Stance On Tying Marijuana Banking Bill To Sentencing Reform

MJ moment

When it comes to the fate of marijuana banking legislation in the Senate, there are more questions than answers at this stage, with the chairman of a key committee walking back his insistence that the bill to be tied to sentencing reform. Nonetheless, the senator is saying he’s still in talks with leadership about incorporating it into a broader cannabis decriminalization proposal. On Tuesday, Senate Banking Committee Chairman Sherrod Brown (D-OH) was pressed on next steps for the Secure And Fair Enforcement (SAFE) Banking Act, which cleared the House on a bipartisan vote last week. Specifically, he was asked about the possibility of attaching language to provide protections for banks that work with state-legal cannabis businesses to a more comprehensive piece of marijuana legislation. Brown told MarketWatch that he’s talking to Senate Majority Leader Chuck Schumer (D-NY) about the issue, but it’s “not clear what we’re going to do there.” “There is interest certainly from both parties. There is interest in sentencing reform as part of it,” he said. “There is some interest in decriminalization generally, not legalization.” Schumer, who said he will put a bill to end federal prohibition on the floor “soon,” recently told Marijuana Moment that he’s not interested in passing the banking legislation as a standalone bill before the chamber advances his proposal. Doing so could undermine support for his bill, he suggested. “We will hope to include things that deal with banking and finance” in the legalization measure, Schumer said. Brown, for his part, has made clear that he’s not eager to move on the SAFE Banking Act, citing reservations about certain provisions. “I think we need to look at a number of things,” he said in an earlier interview, adding that “I will look at this seriously. We’re not ready to move on it.”…

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Source : Key Senate Chair Shifts Stance On Tying Marijuana Banking Bill To Sentencing Reform

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