Lawmakers And Advocates React To Historic House Passage Of Marijuana Banking Bill

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The House passed a standalone marijuana reform bill for the first time ever on Wednesday, and the development has sparked widespread excitement among lawmakers and advocates.

Following the chamber’s 321-103 passage of the Secure and Fair Enforcement (SAFE) Banking Act, lots of members of Congress shared their support on Twitter and in press releases. The bill was approved by all but one Democrat and garnered support from nearly half of the chamber’s Republicans.

Here’s how lawmakers and advocates are reacting to the bill’s passage.

Rep. Ed Perlmutter (D-CO), lead sponsor of the SAFE Banking Act: 

“Thousands of employees, businesses and communities across this country have been forced to deal in piles of cash because of the conflict between state and federal law. After six years of working on this bill, the SAFE Banking Act will go a long way in getting cash off our streets and providing certainty so financial institutions can work with cannabis businesses and employees. I appreciate the partnership of Reps. Heck, Stivers and Davidson and the input and support from several others including Chairwoman Waters for their help passing this bill in the House. I look forward to working with Senate Banking Committee Chairman Crapo, Ranking Member Brown, and the entire Senate as they take up this important issue.”

House Speaker Nancy Pelosi (D-CA): 

 

Sen. Cory Booker (D-NJ): 

“As the SAFE Banking Act now heads to the Senate, we can and we must do more. With this legislation, we can both address the pressing need for cannabis businesses to access financial institutions and provide real restorative justice for those most harmed by the failed War on Drugs. It’s simply not enough as it stands without reinvestment in communities most hurt by the failed drug war and while people of color are left to languish in federal prisons for marijuana-related offenses. Low-income Americans and communities of color have been devastated by the War on Drugs – we should be repairing the damage inflicted on these communities. The end we seek is not just legalization or access to financial institutions, it’s justice.”

Rep. Barbara Lee (D-CA): 

Rep. Jim McGovern (D-MA): 

Rep. Ted Lieu (D-CA): 

Rep. Denny Heck (D-WA): 

“Today’s passage of the SAFE Banking Act is a major milestone. When we began this journey over six years ago, we knew that the changes in state laws around cannabis meant that the federal government would have to act to address public safety. Time kept passing, even as the bill did not, and that confirmed the need for this legislation. More and more states changed their laws with regard to marijuana, and the need to get cash off the streets kept growing.”

Rep. Matt Gaetz (R-FL):

Rep. Earl Blumenauer (D-OR): 

“Today’s vote is historic. The House of Representatives took the most significant step thus far in addressing our outdated and out-of-touch federal cannabis laws. It never made any sense to deny state legal cannabis businesses access to banking services. It not only seriously disadvantaged these businesses, but it also was an open invitation to theft, tax evasion, and money laundering. Congressmen Perlmutter and Heck have fought tirelessly to bring their bill to the floor, and I applaud Chairwoman Waters and House leadership for their support. States have outpaced the federal government on this issue, and state-legal cannabis industries and their employees have suffered. There is much more to be done to end this senseless prohibition. This is just the beginning.”

Rep. Andy Barr (R-KY): 

Rep. Betty McCollum (D-MN):

Rep. Kendra Horn (D-OK):

Rep. Charlie Crist (D-FL): 

Rep. Ben Ray Lujan (D-NM): 

Rep. Diana DeGette (D-CO): 

Rep. Dina Titus (D-NV): 

Rep. Seth Moulton (D-MA): 

Rep. Debbie Dingell (D-MI): 

Rep. Carolyn Maloney (D-NY): 

Rep. Katie Porter (D-CA): 

Rep. Ayanna Pressley (D-MA): 

Rep. David Joyce (R-OH): 

“The current federal approach to cannabis policy not only infringes on the rights of states to implement their own laws (as the vast majority have done), but also hurts legitimate businesses. Currently, cannabis companies are not afforded the same access to financial services as every other legal business in our country. With banks refusing to accept their money out of fear of federal forfeiture or regulatory retaliation, these businesses are forced to operate in all-cash ¾ pay their workers in cash, store cash in vaults on-site, hire armored trucks to transport cash to pay taxes ¾ which makes this a public safety issue.”

Rep. Jennifer Wexton (D-VA): 

Rep. Sylvia Garcia (D-TX): 

Rep. Warren Davidson (R-OH): 

“The SAFE Banking Act defends civil liberties. Passing this bill keeps the right perspective: No federal regulator should block Americans’ lawful access to the financial system. This principle holds true, whether you are talking about firearms or cannabis. I was an original cosponsor of this bill and welcome its passage. It is incumbent on the Senate to join the House and accomplish this important legislative task.”

Rep. Steven Horsford (D-NV):

Rep. Jason Crow (D-CO): 

Rep. Steve Stivers (R-OH): 

“Today is a step forward for a common-sense bill that will make communities across the country safer. For me this has nothing to do with the larger debate about marijuana, instead it’s about legislating for the world we live in, and that reality includes legal businesses being forced to assume the huge risks that come from operating exclusively in cash. I’m grateful that my colleagues, especially Representatives Perlmutter, Heck, and Davidson, have seen the importance of providing access to our banking system, and I look forward to the SAFE Banking Act passing the Senate and being signed into law.”

Rep. Suzanne Bonamici (D-OR): 

Rep. Mark Amondei (R-NV): 

 

Sen. Michael Bennet (D-CO): 

“The lack of access to banking services for marijuana businesses is a public safety issue in Colorado and across the country. This common-sense bill would allow our banking system to serve marijuana businesses the same way they serve any other legal places of business. I’m grateful to Congressman Perlmutter for his leadership in pushing this bill across the finish line. We will continue our efforts to move this bill in the Senate.”

Colorado Gov. Jared Polis (D): 

Former House Speaker John Boehner (R-OH): 

“The SAFE Banking Act will make our communities safer, allow state and local governments to collect taxes more efficiently and transparently, and increase access to capital for small businesses. Today’s vote is a signal that Washington is beginning to catch up with the states and the fastest growing industry in our country.”

Law Enforcement Action Partnership: 

“Prohibiting banking access means hundreds of millions of dollars in legal marijuana markets are exchanged in cash rather than with credit or debit cards, which make them more difficult to track. Keeping tabs on those transactions is part of how police are able to catch serious criminals, but our ability to do that right now is limited. The longer we wait to fix this, the more vulnerable the industry becomes to infiltration by organized crime.”

American Bankers Association: 

“Today’s overwhelming, bipartisan House vote in support of the SAFE Banking Act is a significant step forward for public safety, transparency and common sense. By helping to provide clarity for the financial sector in those states where cannabis is legal, this bill will help banks meet the needs of their communities while reducing cash-motivated crimes, increasing the efficiency of tax collections and improving the cannabis industry’s financial accountability. It will also ensure that businesses with indirect ties to the cannabis industry—including vendors, utility companies and law firms—won’t be needlessly forced out of the financial system.”

Florida Agriculture Commissioner Nikki Fried: 

Leadership Conference on Civil and Human Rights President Vanita Gupta: 

“The failed War on Drugs policies have disproportionately impacted communities of color – particularly African Americans, Latinos, and those who are economically vulnerable. These policies have contributed directly to mass incarceration. The SAFE Banking Act does not holistically repair the current harms posed by prohibition, nor does it invest in communities directly impacted by discriminatory criminalization. We urge the Senate to include provisions in its bill that will forge a more equitable path for communities that remain excluded from the booming marijuana industry. We thank Leader Hoyer and Chairs Nadler and Waters for their commitment to ensuring that the House takes up a comprehensive, broad, and bold approach to marijuana reform. We implore the Senate to follow their lead.”

Center for American Progress Senior Policy Analyst Maritza Perez: 

“Today’s vote may be a release valve for financial institutions, but it does nothing to relieve the decades of harm caused to communities of color affected by the drug war. Following today’s vote, we call on Congress to collectively turn its efforts to equitable marijuana legislation that should include removing marijuana from the Controlled Substances Act and making way for the expungement and resentencing of marijuana convictions. Congress must also consider using marijuana tax revenue to bring services to communities most affected by the drug war, as well as grant programs supporting underrepresented business owners in the cannabis industry as modeled in the MORE Act. Congress has the opportunity to pass comprehensive marijuana legislation that leads with social justice and equity with the MORE Act. We urge Chairman Nadler and House leadership to promptly mark up the MORE Act and bring it to the floor for a vote.”

Veterans Cannabis Project Executive Director Doug Distaso:

“Today’s historic House passage of the SAFE Banking Act is an important first step toward eliminating the stigma around an industry that is providing essential medical treatment options for veterans. This legislation will ensure protections for veterans’ GI Bill benefits and allow them to seek well-paying jobs in a rapidly growing industry. I will be working diligently with my fellow veterans in the coming weeks to ensure the Senate understands the positive impact that cannabis has on veterans’ lives. As service members return with issues ranging from chronic pain to PTSD, many are finding cannabis is a treatment option that improves their quality of life and reduces their symptoms, without the negative side effects of opiates and other prescriptions.”

Credit Union National Association President Jim Nussle: 

“Today’s landmark vote will help credit unions keep communities across the country safe and serve those state-legalized businesses previously left in the lurch. We offer our congratulations and appreciation to Representatives Perlmutter, Heck, Stivers, Davidson and others who have worked on this critical issue for so long. Our work is not done: We are ready to work in the Senate to advance legislation on this issue to the President’s desk.”

Independent Community Bankers of America President Rebeca Romero Rainey: 

“The conflict between state and federal law on cannabis-related businesses has created significant legal and compliance concerns for financial institutions that could provide needed banking services to these companies. This uncertainty has forced cannabis-related businesses to operate mostly in cash, which presents a significant public safety risk. The bipartisan SAFE Banking Act would help eliminate this risk in states where cannabis is already legal.”

House Approves Marijuana Banking Bill In Historic Vote

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