Warlord
09-26-2019, 03:41 AM
Republicans in Congress, who have stonewalled pro-marijuana legislation for years, are now emerging as the cannabis industry’s most valuable allies.
In a historic vote Wednesday, 91 Republicans joined 229 Democrats to pass legislation that would finally give marijuana businesses access to banks — a critical tool that the industry needs to grow.
The vote came after the cannabis banking bill's lead sponsors had spent months trying to draw GOP support, walking a tightrope to avoid casting the legislation as a weed legalization bill. The hope was that their backing would boost momentum in the Republican-led Senate.
The Republican turnout for the bill is stark evidence that the politics around cannabis are rapidly shifting after 33 states — and likely more to come — have legalized marijuana in some form. Long-running stigmas around pot are fading as cannabis becomes increasingly entrenched in local economies.
“The genie is out of the bottle,” said Rep. Steve Stivers (R-Ohio), who led efforts to build the bill’s Republican coalition even as he remains opposed to legalizing recreational marijuana.
Republicans have long been the staunchest opponents of legalization, with GOP leaders in Congress refusing in the past to consider even the narrow safe harbor that the House approved on Wednesday. The bill, which passed in a 321-103 vote, would shield banks from federal prosecution for serving marijuana businesses in states where the drug is legal. The federal prohibition on the sale of marijuana remains.
https://www.politico.com/story/2019/09/25/house-oks-giving-cannabis-industry-access-to-banks-1512850
In a historic vote Wednesday, 91 Republicans joined 229 Democrats to pass legislation that would finally give marijuana businesses access to banks — a critical tool that the industry needs to grow.
The vote came after the cannabis banking bill's lead sponsors had spent months trying to draw GOP support, walking a tightrope to avoid casting the legislation as a weed legalization bill. The hope was that their backing would boost momentum in the Republican-led Senate.
The Republican turnout for the bill is stark evidence that the politics around cannabis are rapidly shifting after 33 states — and likely more to come — have legalized marijuana in some form. Long-running stigmas around pot are fading as cannabis becomes increasingly entrenched in local economies.
“The genie is out of the bottle,” said Rep. Steve Stivers (R-Ohio), who led efforts to build the bill’s Republican coalition even as he remains opposed to legalizing recreational marijuana.
Republicans have long been the staunchest opponents of legalization, with GOP leaders in Congress refusing in the past to consider even the narrow safe harbor that the House approved on Wednesday. The bill, which passed in a 321-103 vote, would shield banks from federal prosecution for serving marijuana businesses in states where the drug is legal. The federal prohibition on the sale of marijuana remains.
https://www.politico.com/story/2019/09/25/house-oks-giving-cannabis-industry-access-to-banks-1512850