While the House vote was expected, it remains less clear whether the Senate will pass the SAFE Banking Act, which would provide safe harbor to banks wanting to work with the cannabis industry.
Just over three months into 2021, at least three powerful groups have formed to push Congress on cannabis legalization.
The SAFE Banking Act, reintroduced this week, would expand the cannabis industry and move it away from a cash-only business, which lawmakers describe as a “public safety crisis.”
The bill offers a narrow fix for one of the cannabis industry’s biggest hurdles: access to banking. It does not address other areas of cannabis law reform, like expungement or equity.
The cannabis industry has fielded business disasters, from fires to COVID-19, mostly without the types of insurance other businesses are afforded. That could change.
Today, there are more cannabis-focused groups than ever before. Now, coalitions are forming to unify those groups and to streamline cannabis conversations with Congress members.
Major legislation has a chance to get through Congress, but will advocates push in the same direction?
A Republican-controlled Senate has proven to be a hurdle for cannabis legislation in Congress. Now that the Georgia runoff elections handed control to Democrats, the path has been cleared.
This is not the same research bill passed in the House earlier this month. It is unclear whether the House will take up the Senate version in the days before Congress’ session ends.
The bill expands the federal cannabis research supply and allows researchers to use cannabis from state-legal entities. It is the second cannabis bill the House has passed this month.
The bill would remove cannabis from the Controlled Substances Act and expunge some past convictions. Still, its path in the Republican-controlled Senate remains unclear.
The bill would remove cannabis from the Controlled Substances Act, thus ending the federal criminalization of cannabis.
The House passed its fiscal year 2021 budget bills this summer. The House included language about banking, while the Senate put an emphasis on hemp.
The sudden push is puzzling, as cannabis legislation tends to move under House Democrats—and get stalled by Senate Republicans.
Lawmakers, agriculture regulators, and hemp industry stakeholders have been calling for more time to get up to speed with the USDA’s new hemp regulations.
Supporters of the bill to remove cannabis from the Controlled Substances Act expressed frustration and disappointment.