Capitol Hill: Speaker Chaos / Govt Shutdown / Israel – Gaza Spells Big Delays For SAFE Banking

Yep no surprises here.. see you again in 2024 SAFE!

MJ Biz writes

The refreshing wave of good news from Washington DC that buoyed the U.S. marijuana industry in late summer might have peaked, with fresh hurdles emerging that could make it harder for Congress to pass cannabis banking reform.

On the bright side: Multiple Capitol Hill observers told MJBizDaily the odds remain good that the U.S. Senate will pass the SAFER Banking Act, which would provide protections from federal prosecution for financial institutions offering services to state-legal marijuana businesses.

The legislation passed a key Senate committee in late September. Expected full Senate passage would be another historic first.

But now, even as some key House members signal opposition to the latest Senate version of the bill, new complications that have nothing to do with banking reform – or marijuana at all – are clouding the outlook.

Nearly all business in Congress is frozen until there’s a resolution to the ongoing palace drama in the House of Representatives.

As of Thursday evening, the Republicans who hold a slim majority in the chamber had yet to select a replacement for the ousted speaker, Rep. Kevin McCarthy.

And whenever “normal” functions do resume, federal lawmakers will have a long list of must-do priorities before they can attend to a cannabis banking bill.

These include passing another spending bill to dodge a government shutdown before a mid-November deadline as well as addressing the fresh and escalating war in Israel.


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