While Wednesday’s committee vote was a first in a years-long effort to fix cannabis banking, the SAFER Banking Act faces an uncertain future in Congress.
The SAFER Banking Act will get a markup next week. Senate Majority Leader Chuck Schumer has committed to adding the HOPE and GRAM Acts.
The unregulated hemp-derived cannabinoid marketplace has exploded since the 2018 Farm Bill descheduled hemp. The FDA has asked Congress to help with a “new regulatory pathway.”
The cannabis banking bill has cleared the House seven times. Will 2023 be the year it clears the Senate, too?
After a slow start, the new Congress has picked up the pace on the introduction – and reintroduction – of its cannabis proposals, including the highly-anticipated SAFE Banking Act.
A slightly revised SAFE Banking Act was reintroduced in the U.S. Senate and House on Wednesday, and, already, the feedback is rolling in.
After a narrow miss at the end of 2022, lawmakers and advocates pushing for the SAFE Banking Act are piecing together their strategy for the new Congress.
This is the first cannabis bill to advance in the new Congress, and the first ever cannabis bill to pass out of a Senate committee.
The SAFE Banking Act was defined by compromise this year. Even with an unprecedented amount between members of Congress, it wasn’t enough.
President Biden’s reforms are significant, but they highlight other leaders’ fumbled opportunities to change course through the decades.
It’s the first standalone cannabis bill to be signed into law since the passage of the Controlled Substances Act of 1970.
The bipartisan bill, albeit incremental, would start to streamline cannabis research and is also symbolic of the momentum toward cannabis reform in Congress.
The hearing focused on the “many benefits” of cannabis decriminalization at the federal level, racial disparities in the criminal justice system, and banking access, among other issues.
The Marijuana Justice Coalition and the Cannabis Freedom Alliance have come together to present a united front post-election.
House Subcommittee Hearing on “Bipartisan Cannabis Reforms at the Federal Level” Scheduled for Next Week
The Subcommittee on Civil Rights and Civil Liberties hybrid hearing will focus on both state and federal cannabis reforms.