Published: Apr 19, 2021, 7:03 pm • Updated: Apr 19, 2021, 7:06 pm By Justin Wingerter The U.S. House of Representatives on Monday passed the SAFE Banking Act, a longtime priority for Coloradans in Congress and local cannabis companies. The House voted 321-101 on the bill, with all Colorado Democrats in favor and two Colorado Republicans opposed. A third Republican, Rep. Lauren Boebert, did not vote. It now moves to the U.S. Senate, which is split 50-50 between Democrats and Republicans, and some in the latter party worry passing it will increase marijuana use and foreign investments. Read the rest of this story on DenverPost.com.
Eight years after it was first introduced, federal legislation that would give cannabis companies in Colorado and across the country access to the banking system is back in Congress. And its co-sponsors, Democrat and Republican, are sounding bullish. The Secure and Fair Enforcement Banking Act, or SAFE Banking Act, has been introduced every Congress since 2013 by U.S. Rep. Ed Perlmutter, an Arvada Democrat. It has passed the House on several occasions but never the Senate. Perlmutter expects that to change this year, he said during a conference call Friday. Sen. Sherrod Brown, an Ohio Democrat who chairs the Senate Banking Committee, has told Perlmutter that he expects the committee to debate and vote on the bill for the first time. Read the rest of this story on DenverPost.com.