GOP Chairman says Safe Banking Approval "Imminent" !!!!!
Huge NEWS we are very very close!
Marijuana Banking Bill Talks Were ‘Very Productive’ Over Recess, GOP Senate Sponsor’s Office Says, As Key Chairman Predicts ‘Imminent’ Agreement
Published 2 hours ago on September 7, 2023By Kyle Jaeger
Bipartisan talks over a marijuana banking bill were “very productive” over the August recess, the office of the lead GOP Senate sponsor tells Marijuana Moment, as a key Democratic chairman says an agreement on advancing the legislation is “imminent.”
As the Senate reconvenes from its summer break, those most involved in negotiating the Secure and Fair Enforcement (SAFE) Banking Act have been expressing tentative optimism that it could move to a vote soon.
That includes Sen. Steve Daines (R-MT), the top Republican sponsor. A spokesperson for his office told Marijuana Moment on Wednesday that the senator “had very productive talks over the recess and we’re moving in the right direction.”
Democratic members, including Senate Majority Leader Chuck Schumer (D-NY) and Senate Banking Committee Chairman Sherrod Brown (D-OH), have similarly touted progress on the legislation, which Brown said he’s aiming to move within “the next six weeks.”
“We think there is an agreement imminent that there’ll be general agreement on,” Brown, whose panel would be marking up the bill to bring it to the floor, said, according to Politico. “We know that some members of the committee are going to vote no regardless, but we think there’ll be something good that gets a good majority.”
While he wouldn’t give a specific timeline for a potential markup, he said on Monday that the SAFE Banking Act was among several priority measures that he wants to advance by October.
Schumer, meanwhile, said in a Dear Colleague letter last week that “safeguarding cannabis banking” is one of his top legislative priorities, though he stressed the need for bipartisan buy-in. He also said in a floor speech on Tuesday that he’s committed to “making progress on cannabis” during the fall session.
The prospects of passing the SAFE Banking Act this fall are contingent on a number of factors, including the fact that moving must-pass spending legislation to fund the government is expected to take up a significant amount of senators’ time. But there’s also the matter of disagreement over one key section of the bill that prevented it from advancing during the summer session before lawmakers broke for the August recess.
Some Democrats believe that Section 10 of the legislation would undermine banking regulations and are seeking to amend or remove. Republicans have said they view that option as a “non-starter,” however. And it’s unclear if any progress was made over the recess to reach an agreement that would allow the bill to move through the Senate Banking Committee and onto the floor.
Marijuana Moment reached out to Brown’s office for comment, but a representative was not immediately available.
At a press conference in late July before lawmakers broke for recess, Schumer said that senators were “making good progress” in bipartisan negotiations over the legislation and predicted a a “very, very productive fall in the Senate.”
