A Major Cannabis Bill Gains Momentum in the Senate
Senators on both sides of the aisle are throwing support behind a proposal to tuck key marijuana banking legislation into a larger package aimed at boosting U.S. competitiveness, increasing the odds that a significant cannabis bill gets through the upper chamber this year.
Sen. Patty Murray (Wash.), the No. 3 Senate Democrat, is leading a push to pass the SAFE Banking Act, which would enable cannabis firms to use banking services, as part of a sweeping package lawmakers are hashing out in both chambers that is intended to bolster the country’s supply chains and manufacturing.
While the cannabis measure was not included in the bipartisan U.S. Innovation and Competition Act that passed the Senate, the legislation was featured in the House’s version of the bill, known as the COMPETES Act, that passed in February.
