Senate Majority Leader Says Congress Is ‘Very Close’ To Passing Marijuana Banking Measure

Senate Majority Leader Chuck Schumer (D-NY) says Congress is getting “very close” to introducing and passing a ‘safe banking’ measure for the cannabis industry. During the New York State senate debate over the weekend, Schumer was asked if more research needs to be done before cannabis legalization happens. While Schumer said that research is “very, very important,” he pointed out that “many states have approved legalization of cannabis,” and so the policy is already “upon us.” And regarding the status of the cannabis measures currently before the senate, Schumer said, “we are getting very close.” He then spoke of how he is working with fellow senators on from both parties to get the SAFE Banking Act passed. According to several lawmakers who’ve spoken previously on the subject, there is a plan to file the SAFE Banking Act some time during the lame duck session, which is the period between next week’s midterm elections and the end of the current Congress, which is the end of this year.