Cannabis News of Note for the Week:
Politico Pro Cannabis (11/3): Senate Pushes Forward (paywalled newsletter, full text below)
Cannabis Reports of Note for the Week:
Politico Pro Cannabis (11/3): SENATE PUSHES FORWARD — Senate Republicans are moving forward on the cannabis banking bill despite a more adversarial House speaker.
“We’re working with our House colleagues who have the companion bill to get alignment between both of the chambers,” Sen. Steve Daines (R-Mont.) — the Republican lead on the bill in the Senate — told Natalie on Wednesday.
New House Speaker Mike Johnson (R-La.) has opposed every significant piece of cannabis legislation that’s come up in the House, including twice voting against the SAFE Banking Act when it came up for a floor vote.
Sen. Cynthia Lummis (R-Wyo.), another cosponsor of the cannabis banking bill who helped it advance out of the Senate Banking Committee earlier this year, said it’s ultimately up to Majority Leader Chuck Schumer whether the bill gets a floor vote and suggested he might attach it to must-pass legislation.
“I think that the majority leader will just be looking for the right place to let it hitch a ride,” she told Natalie.
That will mean deliberating more with Republicans on the House Financial Services Committee… but both chambers need to figure out funding for the government first, so don’t look for any quick movement.
House Democrats, meanwhile, are still reeling from the announcement that Rep. Earl Blumenauer (D-Ore.) will retire at the end of this Congress. They have not, however, given thought to who may take up the mantle on cannabis policy.
Rep. Maxwell Frost (D-Fla.) is one lawmaker with a history of working on cannabis policy — and his name has come up behind the scenes as potential future Cannabis Caucus co-chair. First things first, however: Frost might need to get a crash course on the caucus before assuming any co-chair position.
“I didn’t even know that was a thing,” Frost told Natalie. “But sounds cool.”
MOVERS & SHAKERS
The Credit Union National Association and the National Association of Federally-Insured Credit Unionsare merging and will operate under the moniker America’s Credit Unions. The trade groups have lobbied for legislation that would make it easier for cannabis companies to access banking services.