Rep. Perlmutter Makes Final Push on SAFE Banking


<![CDATA[In one of his final stints on Capitol Hill, Rep. Ed Perlmutter isn’t ready to call it quits on banking reform for the cannabis industry. The Colorado Democrat, who assumed office in 2007, announced earlier this month that he won’t seek reelection come November, attracting the attention of those throughout the cannabis industry, many of whom have backed his fight to provide clarity and safe harbor to financial institutions servicing cannabis clients. Office of the Clerk, U.S. HouseRep. Ed Perlmutter, D-Colo., speaks on his SAFE Banking Act in September 2021, when the House added it as an amendment to the defense spending package. Perlmutter, 68, is the chief author of the Secure and Fair Enforcement (SAFE) Banking Act, which has passed the U.S. House five times since 2019, including twice as a standalone bill, and most recently as an amendment to the National Defense Authorization Act in September 2021, before it was later removed from the military spending package during negotiations between the House and Senate. RELATED: U.S. House Adds SAFE Banking to Defense Spending PackageAll five times SAFE Banking passed the House, it stalled before making headway in the Senate. But behind broad bipartisan support in his chamber, including a 321-101 roll call vote in April, Perlmutter isn’t giving up on its complete passage. In his most recent move, Perlmutter is now fixing to attach SAFE Banking as an amendment to the America COMPETES (Creating Opportunities to Meaningfully Promote Excellence in Technology) Act of 2022, he announced Jan. 28. Set to be taken up by U.S. House members this week, the COMPETES Act is a 2,900-page bill that, in part, focuses on increasing competitiveness with China and supporting the U.S. chip industry, including $52 billion to subsidize research for semiconductor manufacturing and research, Reuters recently reported. “The SAFE Banking Act…

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