White House officials have stated that Congress is taking the lead on reforming the banking system’s treatment of marijuana and that the Biden administration has no plans to announce any executive action on the matter at this time.
During a press briefing last week, Karine Jean-Pierre was asked if Vice President Joe Biden plans to administratively handle the banking issue for state-legal cannabis firms, many of whom operate entirely cash-only and have been targets of crime under federal prohibition.
‘I don’t have any fresh policy pronouncements to make from here,’ Jean-Pierre remarked.
The press secretary’s reaction to Jonathan Salant of NJ.com’s query was, “As you know, this is something that Congress is working on.” We recognize there is a need for legislation and action, but I must direct your attention to Congress, as this is, once again, their current focus.
Even in the final days of the previous Congress, lawmakers from both parties pushed to approve marijuana banking reform, with leadership discussing the details of a package that was also supposed to include expungement and gun privileges for cannabis patients.
Despite many efforts, lawmakers were unable to reach an agreement on the so-called SAFE Plus legislation before the conclusion of the session. However, with Republicans now in control of the House, there is renewed interest in bringing the issue back up this year.
Even while he has advocated for state autonomy in cannabis policy, Biden has yet to articulate a firm policy stance on the banking of marijuana. Since the president pardoned widespread marijuana possession in October, his administration has gotten more public on the topic.
Biden has argued that people should be released from prison and their records expunged for simple possession of marijuana as part of his commitment to “equal justice,” a term he coined earlier this month.
Although the President’s pardons do not formally clear criminal records, he has urged state governors to follow suit because the vast majority of cannabis prosecutions take place at the state level, where authorities may have more leeway to reduce penalties.
Since hundreds of people are still detained for federal cannabis offenses, supporters have actively lobbied for their immediate release. However, Joe Biden has made it clear that he is only ready to pardon those with simple possession charges and not those who have sold drugs like cannabis.
Meanwhile, the administration is conducting a cannabis scheduling review, and last month, a bipartisan group of 29 House and Senate members asked the president to openly support federal legalization.
Legislators didn’t ask Vice President Biden to take any action to speed up legalization on his own, but their enthusiasm for a more active role from the White House in supporting reform is clear.
The president also signed a marijuana research measure into law last month, marking the first time in American history that cannabis reform legislation at the federal level was passed on its own.
A number of polls have revealed that the majority of Americans agree that marijuana should not be categorized as a Schedule I narcotic at the federal level and that they support the president’s decision to pardon some of those who have been convicted of drug crimes.
