As a Majority Of U.S. States Legalize Marijuana, Lawmakers Work To Alter The Legislation!

Although the majority of the United States has legalized marijuana either for recreational use or for medical purposes to some level, lawmakers are attempting to alter cannabis laws. Marijuana is still prohibited by federal law. According to the United States Drug Enforcement Administration, it is classified as a Schedule I substance.

Drugs that are classified as Schedule I are those that “have no generally recognized medicinal use and a high potential for misuse.” The federal government’s scheduling, according to Representative Earl Blumenauer (D-Ore.), has a “stranglehold” on important aspects of cannabis legislation.

For instance, he claimed that the schedule makes it challenging for legal cannabis businesses to work with banks. He said: “The federal government effectively paints a bullseye on the back of tiny local dispensary operators by denying state-legal cannabis businesses full banking access.”

As a Majority Of U.S. States Legalize Marijuana, Lawmakers Work To Alter The Legislation!

Blumenauer is in favor of passing a slew of laws that would simplify matters for states that legalize marijuana. Included in this is the SAFE Banking Act, which the House has approved seven times. The Senate put a stop to the proposal.

First of all, we’ve had issues in the past because the Republican Senate leadership was absolutely against and would not support bringing it ahead, according to Blumenauer. The legislation would be passed and sent to Mitch McConnell’s hospice to expire.

The Democratic and Republican parties each had one senator in the Senate last year, with Vice President Kamala Harris casting the tie-breaking vote. Republicans Rand Paul of Kentucky and Sen. Steve Daines of Montana both support the SAFE Banking Act.

As a Majority Of U.S. States Legalize Marijuana, Lawmakers Work To Alter The Legislation!

“My bipartisan SAFE Banking Act is first and foremost about public safety,” stated Sen. Daines. Legal cannabis shops that must only accept cash as payment expose themselves to criminality and decrease the safety of the communities in Montana. Although I oppose federal marijuana legalization.

states like Montana have made their voices heard, and it is our responsibility to make sure that legitimate enterprises have access to financial institutions. For the benefit of Montana families and communities, I’ll keep working with my colleagues on both sides of the aisle to get this public safety bill signed into law.

“Legal businesses have problems handling the money that customers pay, placing it in banks,” Sen. Paul continued. Because of federal regulations stating that if a bank accepts, you know, illegal drug money, their license may be revoked, national banks are wary of receiving their money.

As a Majority Of U.S. States Legalize Marijuana, Lawmakers Work To Alter The Legislation!

No bank wants to lose its license. Hence, if your state has legalized marijuana, the Safe Banking Act sort of confirms and makes it clear that no bank will be penalized for taking money from a lawful business within their jurisdiction.

Paul, though, feels that the Democrats squandered their chance to approve the bill while they held both the House and the Senate. “I think it’s solid legislation; it’s been around for a while. This year, it didn’t pass, and I think a major factor in that is Senator Schumer’s decision not to bring it up.

There were discussions about adding it to other legislation, but the Republicans who wished to support other laws opposed that idea. But it was never permitted to come to the floor, which would have helped people like me pass it. And I believe it could have passed if it had been considered as a separate bill on the floor.

As a Majority Of U.S. States Legalize Marijuana, Lawmakers Work To Alter The Legislation!

Still, I believe it would pass,” he declared. Paul admitted that given the House’s new narrow Republican majority, marijuana legislation may likely face difficulties passing. Nonetheless, Blumenauer emphasized that he believes the plan has sufficient bipartisan backing. He hopes that the other marijuana-related measures will also be approved.

“Yes, I believe that we have a chance to advance on every item on our agenda. Veterans’ safe access has long been a hot topic, and I believe there is support in the Senate for it. if the filibuster could be defeated. The SAFE Banking Act has been approved by the House seven times, and this most recent vote was so close due to the addition of some crucial provisions of racial justice.

As a Majority Of U.S. States Legalize Marijuana, Lawmakers Work To Alter The Legislation!

I believe we are looking at a package that might receive support from the majority. The country as a whole is gaining momentum. As you are aware, two more states approved ballot initiatives. I believe everything is in place, and the full package I’ve been working on is within grasp,” he declared.


Sheela Sharma

About Author

Sheela is a skilled and experienced writer with a deep passion for all things related to the CBD industry. She enjoys writing everything related to CBD and Marijuana. When she isn't writing she likes to watch tv series and listen to podcasts.

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