Is the SAFE Banking Act nearing passage? Senators agree that this problem is at play
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Supporters of the Safe and Fair Enforcement Banking Act (SAFE) recently discussed the urgency of passing cannabis reform in this session, reiterating the public safety need to allow the industry access to the financial system.
Bipartisan and bicameral supporters of banking reform said “it’s time to take action against the standalone legislation passed by the House of Representatives,” Marijuana Moment reported.
The National Cannabis Industry Association (NCIA) brought together more than 100 stakeholders for two days of lobbying on Capitol Hill, including more than 100 meetings with lawmakers and staffers, to advocate for passage of the Cannabis Act Banking SAFE in 2022.
Sen. Jeff Merkley (D-OR), the sponsor of the SAFE Banking Act, spoke about violent crimes targeting marijuana businesses and workers and bipartisan support for stand-alone legislation. “It’s politically positive. It’s good politics and good policy,” Merkley said. “That’s why we’re here today, to say it’s long past time to finalize the SAFE banking bill.”
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Recently, at the Payments, Banking, and Compliance (PBC) Conference, Merkley discussed the so-called “SAFE Banking Plus” bill. “Every legit business deserves the same access to the same resources as everyone else — resources like bank accounts, credit, payment processing, and more,” Merkley said separately in a press release. “When it comes to cannabis, the country is changing fast and it’s about time our federal laws caught up.”
A public safety issue
Rep. Ed Perlmutter (D-CO) said the SAFE Banking Act “is obviously a public safety issue. It’s a tax issue. It’s a matter of civil justice (…) We can work it out. We will take care of this. We need more Republican co-sponsors,” who the congressman expects to join soon.
RELATED: SAFE Banking, Access to Medical Marijuana for Veterans Approved in Home as Part of National Defense Act
“I know in the House of Representatives that whatever they pass in the Senate, we will get through in the House of Representatives. And that will be law by the end of this year, with your help and your hard work,” Perlmutter added.
Sen. Steve Daines (R-MT), the GOP leader for autonomous legislation, called the legislation “a public safety issue — when legal cannabis companies in Montana have no way of conducting their businesses safely and are forced to comply with everyone Means of operating Communities become vulnerable to crime.”
The SAFE Banking Act has passed the House of Representatives seven times but has not moved in the Senate.
What do Minnesota Senators think of this issue?
GOP Senator Carla Nelson of Minnesota and DFL challenger Aleta Borrud discussed legalization of cannabis for recreational purposes, including health care, election integrity, guns and abortion, among others.
Nelson, who has served in the Minnesota Senate since 2010, beat Borrud 50.9% to 49% in a close race, Yahoo News reported.
RELATED: Senate rejects SAFE Act for sixth time
When senators were asked if they support the legalization of recreational cannabis, they said:
“I absolutely support the legalization of cannabis. Cannabis has been used for millennia and people in our community use it. People shouldn’t go to jail, especially our black and brown neighbors who go to jail for using it. It becomes a question of justice. If we legalize it, we can regulate it and improve its safety,” Borrud said.
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“I have heard concerns from law enforcement about the packaging of gummy candies that are now being put up for sale. I think we have to make sure these don’t fall into the hands of our children.”
On the other hand, Nelson expressed that she has the support of the Minnesota Police and Peace Officers Association. “And I’ll tell you what our public safety officers are all saying on that score. Until there is an on-site sobriety test, legalizing marijuana for the general public is irresponsible,” she continued.
Legalizing cannabis for adults means social justice
Black Minnesotans are nearly five times more likely to be arrested on marijuana charges than whites, according to the latest data from the Bureau of Criminal Apprehension.
“In 2021, there were 6,055 marijuana arrests in the state,” according to the latest data from BCA. Cannabis accounted for just over a third of all drug arrests in Minnesota. “Nearly 90% of marijuana arrests in Minnesota are for simple possession and not for sale or distribution.”
This article originally appeared on Benzinga and has been republished with permission.
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