Cannabis Banking Excluded From NDAA – Cannabis | weed | marijuana

The United States Congress has declined to include cannabis banking in the NDAA (National Defense Authorization Act).

The NDAA is a bill passed annually by Congress that regulates the policies and funding of federal defense agencies.

The NDAA is often used to undermine the principles on which the United States was founded. For example, the NDAA grants the President the power to kidnap Americans and detain them indefinitely without a trial.

The NDAA not only spits in the face of the Bill of Rights, it completely undermines the signing of the Magna Carta.

So what did the military state’s annual grand bill have to do with cannabis banking?

Cannabis banking banned from NDAA

The NDAA has been around since the 1960s. It should be standard law for defense agency funding and governance. But as previously mentioned, it has turned into a monster that is undermining Western legal tradition.

But there is always a silver lining. Some lawmakers have been eager to attach proposals for cannabis banks to the NDAA, just as they attach pet projects to legislation expected to be passed.

Some US politicians have attempted to push through the Cannabis SAFE Plus Bank Act. This would give legal cannabis companies access to credit, better tax forms, and other financial tools and services that are severely lacking in the US cannabis industry.

An earlier version of the NDAA contained language that sounded like the SAFE Banking Act.

However, in a speech, Senate Minority Leader Mitch McConnell criticized the use of the NDAA to include cannabis banking. He claimed it would make the financial system “more compassionate to illegal drugs.”

McConnell need not be aware that twenty years of defending Afghanistan’s poppy fields has made the financial system “more compassionate to illegal drugs.”

The Democrats were no better. Democratic Senators Cory Booker and Sherrod Brown were less enthusiastic about cannabis banking in the NDAA.

So what now?

Booker and Brown want federal cannabis programs that include job training, legal aid, and literacy programs for victims of the Drug War. As well as loans for small cannabis businesses and cannabis businesses owned by people from marginalized communities.

“They just want to take care of the banks, and that’s all they want,” Brown said of Republicans.

But in typical fashion, Brown undermines the people he claims to be helping. Americans operating cannabis businesses in the legal states don’t need Washington DC to hold their hands.

You need access to credit. You must be able to deduct business expenses.

But apparently “Republicans and the banks are just trying” to work cannabis banking legislation into the NDAA without addressing criminal justice reform.

In other words, if I don’t get cannabis welfare reform, you won’t get cannabis banking reform.

The worst DC mentality shows, and it doesn’t matter what color the team is.

For example, Senator Inhofe (R) said he would vote against the NDAA if it included cannabis banking. At the same time, Republican Nancy Mace supported cannabis banking.

Senator Murray (D) urged colleagues (Booker and Brown) to put their differences aside and ensure “our legal cannabis companies have access to credit.”

Although the Cannabis SAFE Banking Act enjoys bipartisan support, there was a consensus that they should not enact it through the NDAA.