With six weeks left in 2024, Washington, D.C.-based cannabis lobbyists and federal cannabis reform advocates already have entered ‘wait until next year’ mode.
Despite friendly signals from President-elect Donald Trump and unfinished business from an exiting Democratic majority in the US Senate, there is little hope for long-anticipated bills such as cannabis banking reform to advance in the lame-duck session, according to lobbyists, advocates and industry players.
“Our position for most of this year is to not expect anything of the lame-duck” session, said Morgan Paxhia, a principal of cannabis hedge fund Poseidon Asset Management in San Francisco.
Before Election Day, there was some hope – and perhaps a chance – for Democratic Senate Majority Leader Chuck Schumer, who called the SAFER Banking Act for a committee hearing in September 2023, to enact the bill by attaching it to other must-pass legislation.
This item originally appeared on MJBizDaily. The rest of the story is available here.
The post Little Hope for Passage of SAFER Banking Before Until 2025 appeared first on Business of Cannabis.
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Despite friendly signals from President-elect Donald Trump and unfinished business from an exiting Democratic majority in the US Senate, there is little hope for long-anticipated bills such as cannabis banking reform to advance in the lame-duck session, according to lobbyists, advocates and industry players.
“Our position for most of this year is to not expect anything of the lame-duck” session, said Morgan Paxhia, a principal of cannabis hedge fund Poseidon Asset Management in San Francisco.
Before Election Day, there was some hope – and perhaps a chance – for Democratic Senate Majority Leader Chuck Schumer, who called the SAFER Banking Act for a committee hearing in September 2023, to enact the bill by attaching it to other must-pass legislation.
This item originally appeared on MJBizDaily. The rest of the story is available here.
The post Little Hope for Passage of SAFER Banking Before Until 2025 appeared first on Business of Cannabis.
Continue reading...
