Washington’s senior U.S. Senator is leading the push to legalize banking for cannabis businesses.
The SAFE Banking Act Would eliminate the risk of banks facing federal racketeering charges for working with pot businesses. It’s passed the House with bipartisan support six times, but it’s both anti-weed conservatives and liberals who want all the federal cannabis laws changed at once rather than piecemeal that have blocked it in the Senate.
The act is now part of a larger bill on supply chain issues and postal reform being negotiated in a conference committee, with Democrat Patty Murray a member of that committee. The bill that passed the House contains the SAFE Banking Act, but the Senate version does not. Murray says she’s feeling optimistic. “I think the best opportunity for us to do this is on the bipartisan bill that we are trying to keep it in,” Murray says, “because that bill is moving and has a really good chance of passing. It deals with a lot of really critical issues.”
Murray couldn’t actually say if Democrats would have the 60 votes needed to get the SAFE Banking Act passed, but she’s more confident about success if it is included in the other bill.
There is urgency this year because, with a real chance of Republicans regaining a Senate majority, the window for pot banking might be closing.
You can watch Senator Murray’s entire press conference below:
