Schumer makes last-ditch push for cannabis banking bill

This is likely the last opportunity for a bipartisan group of supporters to get a cannabis bill across the finish line in this Congress.

By NATALIE FERTIG -Politicocom – Dec 16, 2022

Senate Majority Leader Chuck Schumer is making a final push for inclusion of the cannabis banking bill in the omnibus funding package.

According to a senior Senate Democratic aide, Democrats shared the revised text with Republicans on Thursday in a bid to get cannabis legislation over the finish line. The new bill text addresses concerns raised by key Republicans, including Senate Banking Committee Ranking Member Pat Toomey (Pa.) and Judiciary Committee Ranking Member Chuck Grassley (Iowa).

But whether Senate Minority Leader Mitch McConnell — who has derided the cannabis banking bill on the Senate floor — can be convinced to include it remains to be seen.

Schumer plans to push the bill with the other three House and Senateleaders in omnibus meetings on Friday and through the weekend.

Details: GOP members are concerned about enforcement and money laundering. Those concerns were raised in a Justice Department memo, first reported by Punchbowl News, that was first circulated in May 2022. The new language also hopes to address concerns about cash derived from illegal marijuana sales.

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