Cannabis News of Note for the Week:
Politico Pro Cannabis: Banking Rumors Have Begun (paywalled newsletter, text below)
Ask a Pol: Sen. Carper on SAFER Banking: “In Delaware, they’ve actually reacted to meet what they think is a legitimate banking need” (the top audio link is paywalled but scroll halfway down the page and you can listen to the full audio via a secondary link)
Marijuana Moment: Trump’s New Attorney General Pick Opposed Legalizing Medical Marijuana In Florida
MJ Biz Daily: Senate Farm Bill draft signals bipartisan desire to solve intoxicating hemp problem
Cannabis Reports of Note for the Week:
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Politico Pro Cannabis (11/18/24): BANKING RUMORS HAVE BEGUN
Senators on Capitol Hill had an interesting response when asked last week about the prospects for cannabis banking legislation next year: They said they were still focused on 2024, despite the narrow window to get anything done.
“I’m thinking about this Congress right now, hoping to get something done in NDAA,” Sen. Cory Booker (D-N.J.) told Natalie as the Senate subway door closed behind him, referencing the must-pass mammoth defense policy bill.
When chased down later, Booker would not add any further details.
The cosponsors of the bill were also optimistic.
“We want to see it get done before the end of the year,” Republican lead sponsor Sen. Steve Daines said on Wednesday, adding that they are looking for bills to attach it to — but would not give specifics beyond that.
Democratic lead sponsor Sen. Jeff Merkley said to check in with him in the coming days for an update on the cannabis banking bill.
Take all this with the level of salt you’d find in Utah’s Great Salt Lake.
That’s because we’ve been here before — Congress has come close to a deal on cannabis banking, only to have it fall through at the last minute. And frankly, there are major hurdles to a lame duck deal that have nothing to do with cannabis. There are only 16 days left for legislation in the 118th Congress, and it’s possible that the Senate onlyapproves judges in that window.
Sen. Ron Wyden (D-Ore.), the powerful chair of the Finance Committee, said that the first few days of a lame duck session were really key in determining whether the bill could get attached to something. Appropriations and the NDAA were both bills he brought up, but he also acknowledged that there are questions about whether either will pass before the end of the year.
“Lame ducks are unique kind of creatures,” Wyden explained. “If [something] gets off to a good start, then it can pick up momentum and get done [by] defying the odds.”
NDAA was the most often mentioned bill that could form a vehicle, but it will encounter less turbulence if it’s a clean bill, unencumbered by amendments like cannabis banking language.
Sen. Kevin Cramer (R-N.D.), yet another Capitol Hill optimist, pointed out that there are things Majority Leader Chuck Schumer will want to get done before he loses the reins, and he has often mentioned cannabis banking as a priority.
“Maybe he could find the least offensive thing and get it on there,” Cramer said.
We’ll be back on the Hill asking about cannabis banking this week, and probably will have a clearer picture within days.
“We got the rest of today, tomorrow, and then early next week,” Wyden said on Wednesday. “And that’s really the key window.”