With six weeks left in 2024, Washington, D.C.-based cannabis lobbyists and federal cannabis reform advocates already have entered ‘wait until next year’ mode.
Despite friendly signals from President-elect Donald Trump and unfinished business from an exiting Democratic majority in the US Senate, there is little hope for long-anticipated bills such as cannabis banking reform to advance in the lame-duck session, according to lobbyists, advocates and industry players.
“Our position for most of this year is to not expect anything of the lame-duck” session, said Morgan Paxhia, a principal of cannabis hedge fund Poseidon Asset Management in San Francisco.
Before Election Day, there was some hope – and perhaps a chance – for Democratic Senate Majority Leader Chuck Schumer, who called the SAFER Banking Act for a committee hearing in September 2023, to enact the bill by attaching it to other must-pass legislation.
This item originally appeared on MJBizDaily. The rest of the story is available here.
