The House approved a coronavirus relief package on Friday that includes provisions that would protect banks that service state-legal marijuana businesses from being penalized by federal regulators. The vote was 208 to 199.
Advocates, stakeholders and lawmakers have been pushing for some form of cannabis reform to be inserted into COVID-19 legislation. The inclusion of the Secure and Fair Enforcement (SAFE) Banking Act, which was previously passed by the House as a standalone bill last year, represents a significant victory to that end. That said, it is unclear how the issue will fare in the Senate, whether as part of the COVID-19 response or otherwise.
Rep. Ed Perlmutter (D-CO), chief sponsor of the legislation that is being included in the new broad package, made the case in committee and on the floor this week that while some Republican lawmakers might argue that the cannabis language doesn’t belong in a coronavirus bill, the measure would actually protect public health by reducing the threat of spreading the virus through cash transactions.
“I’m encouraged that the House recognizes the urgency of this issue and has taken this strong and necessary position,” Steve Hawkins, executive director of the Marijuana Policy Project (MPP) said in a press release.
“Continuing to exclude the cannabis industry from accessing basic and essential financial services during this time will result in more harm than good,” he said. “Not only will it make the country’s economic recovery that much harder, but the provisions intended to help minority-owned businesses would continue to be absent within the industry.”
Several GOP members protested the banking legislation all the way up until Friday’s vote, arguing that it is not germane and is an example of irrelevant items included in a Democratic “wish list.” Senate Majority Mitch McConnell (R-KY) specifically took issue with a requirement in