{"id":3901,"date":"2019-09-25T11:51:00","date_gmt":"2019-09-25T15:51:00","guid":{"rendered":"https:\/\/www.merkley.senate.gov\/us-house-passes-landmark-cannabis-banking-bill\/"},"modified":"2023-07-24T11:07:23","modified_gmt":"2023-07-24T15:07:23","slug":"us-house-passes-landmark-cannabis-banking-bill","status":"publish","type":"post","link":"https:\/\/www.merkley.senate.gov\/es\/us-house-passes-landmark-cannabis-banking-bill\/","title":{"rendered":"La C\u00e1mara de Representantes de EE. UU. aprueba un proyecto de ley bancario sobre cannabis"},"content":{"rendered":"
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The U.S. House voted overwhelmingly on Wednesday to safeguard banks that serve state-legal cannabis businesses, a move desperately sought by growers, processors and retailers in Oregon and around the country who have been forced to operate largely in cash<\/a>.<\/p>\n

The Secure and Fair Enforcement (SAFE) Banking Act passed by a 321-103 count. The bill<\/a> could face tough odds in the Senate, but the House action was nevertheless a remarkable step toward cannabis policy normalization in Congress, a sign of the shifting politics on the issue as more and more states legalize the drug.<\/p>\n

“This is an $11 billion industry and growing,” Portland Democratic Rep. Earl Blumenauer<\/a>, a longtime leader on cannabis reform, said on the House floor. “It’s growing because the people and states are demanding it. We need to step up and solve one of the biggest problems.”<\/p>\n

Because cannabis is a Schedule I drug under the Controlled Substance Act, most financial institutions steer clear of businesses that deal with it, even in states where the drug is legal. That leaves the industry largely dealing in cash, increasing the risk of illegal and dangerous activity, reform advocates argue, and hindering growth.<\/p>\n

The banking problems can also extend to businesses — legal, financial and other services — that serve the cannabis industry, even if they “don’t touch the plant,” as it’s known.<\/p>\n

More than three dozen state attorneys general backed the measure, seeing it as a safety issue, and it had the support of banking industry groups as well.<\/p>\n

“We are very pleased with the strong bipartisan vote to pass the SAFE Act in the House,” Linda Navarro<\/a>, president and CEO of the Oregon Bankers Association, said in an email. “We hope to see the same level of support in the Senate. While this bill doesn’t by itself solve all of the challenges in banking cannabis related businesses, it is an important step forward.”<\/p>\n

Some progressives had stepped up in the past week to question passing a bill<\/a> that would aid businesses without first addressing social equity issues stemming from the war on drugs. But in the end, progressive Democrats were onboard, accepting the measure as an important first step toward equitable treatment.<\/p>\n<\/div>\n<\/div>\n

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