by Michelle Rutter Friberg Director of Government Relations at NCIA
Cannabis news in Washington, D.C., has been slow since NCIA’s 11th annual Cannabis Industry Lobby Days ended in May. Are you curious about what will happen before the August recess? Continue reading to find out what could happen before the August recess and a summary of where we are now.
SAFE Bank
The Senate Banking, Housing, and Urban Affairs Committee conducted a hearing last month, right before NCIA’s Lobby Days. It was titled, “Examining Cannabis Banking challenges of small businesses and workers”. The bill’s main sponsors, Senators Jeff Merkley and Steve Daines, as well as Ademola Oyefes, International Vice President and Director of Legislative and Political Action Department of the United Food and Commercial Workers International Union (UFCW), Michelle Sullivan, Chief Risk & Compliance officer, Dama Financial, Dr. Kevin Sabet, President/CEO of Smart Approaches to Marijuana (Project SAM), and Cat Packer, Vice Chair of Cannabis Regulators
I was surprised by DAMA’s comments, which many interpreted as an opposition to the bill. But most importantly, SAFE is needed so we can stop talking only about financial services. Instead, we will be able to talk about cannabis regulation and legalization in a fair and smart way.
What’s next, then? Sherrod Brown, the chairman of the Banking Committee (D-OH), recently revealed that SAFE Banking will be marked up after other bills have been marked up. The good news is? The process has already begun. What’s the bad news? No official word on the date of SAFE’s markup. I expect it to happen after the Fourth of Jul break, but before the members depart D.C. on their annual month-long August vacation.
Appropriations
Since years, cannabis reform advocates have looked at the appropriations procedure as a means to implement federal cannabis reform.
In 2014, the federal budget included a provision protecting medical cannabis patients, businesses, and programs from federal interference. This amendment (also known as “Rohrabacher Farr”) became law. Since then, this provision has been included as part of appropriations legislation and is still the law.
NCIA has (and will continue to) lobby for the expansion of this provision to adult-use businesses, and also to use the appropriations to enact reforms such as allowing Washington, D.C. commercialize adult cannabis sales.
House GOP negotiators raised the stakes this week by announcing that they would lower their FY2024 budget caps to levels below the ones set in a deal between President Biden (D-NY) and Speaker Kevin McCarthy(R-CA). The already volatile budget process will be made even more volatile by this announcement.
Maryland
Maryland will start selling cannabis for adults on July 1. Virginia legalized cannabis in 2021 for those older than 21. D.C. also legalized adult-use cannabis in 2014 via Initiative 71 (but has been unable start sales due to interference from Congress). The District’s neighbors will be exposed to more benefits of regulation if they are allowed to sell cannabis.
While it has been quiet in D.C., in June, keep an eye out for the first ever Senate markup on SAFE Banking in July! NCIA, as always, will continue to be your advocate and keep you up-to-date on the latest.
The post Summer recess & Cannabis progress: Cannabis News from Capitol and Expectations For The August Break first appeared on National Cannabis Industry Association.
