Nearing finish line, fight for cannabis banking bill shifts to the Senate

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Advocates are hopeful that a bill that would permit the economic sector to lastly serve cannabis firms could head to President Trump’s desk by the finish of the year.

The Property in a robust bipartisan vote final week passed the Safe and Fair Enforcement (Protected) Banking Act, which would permit banks and economic institutions to function with cannabis firms.

The bill now faces an uncertain future in the Republican-held Senate, with tiny time left on the legislative calendar and Congress currently distracted by funding fights and the Property Democratic impeachment inquiry into Trump.

But supporters see expanding momentum for the legislation and are hopeful they are nearing the finish line in spite of challenges.

The uncommon coalition of economic sector lobbyists, progressive lawmakers, law enforcement officials and cannabis firms backing the bill cheered the Property vote as developing momentum for the Senate.

“A robust bipartisan outcome in the Property final evening implies that we have a greater opportunity of receiving the Senate’s focus,” Terry Holt, a spokesman for National Cannabis Roundtable and a companion at HDMK, told The Hill right after the 321-103 Property vote, which saw 229 Democrats, 91 Republicans and one particular Independent back the bill. [Read More @ The Hill]

 



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