Senate Majority Leader Chuck Schumer (D-NY) is “making a last ditch effort” to put marijuana banking reform in forthcoming omnibus appropriations legislation, a senior Senate Democratic aide told Marijuana Moment on Friday.
With time running short in the lame duck session, there’s been a concerted push to use the spending package as the vehicle for the Secure and Fair Enforcement (SAFE) Banking Act. Lawmakers failed to secure a deal to attach the reform to a must-pass defense bill last week, leaving them with limited legislative options.
There are some GOP senators who’ve expressed support for moving the cannabis banking proposal, either as part of large-scale legislation or as a standalone, but other key players like Senate Minority Leader Mitch McConnell (R-KY) and Sen. John Cornyn (R-TX) represent major obstacles.
Negotiations were partly complicated after a Justice Department memo from earlier this year surfaced in a report, revealing that DOJ had some concerns about possible unintended consequences of enacting SAFE Banking. That prompted several Republican senators to hold a meeting with the department last week.
On Thursday, Democrats shared revised SAFE Banking text with Republicans that “addresses DOJ implementation and money laundering concerns,” the top staffer told Marijuana Moment and other news outlets on Friday. “Democrats have also presented language aimed at addressing the issue of legacy cash.”
After Politico reported on Schumer’s…
