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SAFE Banking Act Unlikely To See Vote Ahead Of Summer Recess

The Secure and Fair Enforcement (SAFE) Banking Act may now not be voted on before the summer recess, extinguishing its proponents’ hopes it could get a markup next week.

Business of Cannabis reported earlier this month that there was promise of the vote taking place in July, however, according to Marijuana Moment, that may no longer be the case.

Marijuana Leadership Campaign lobbyist Don Murphy told the publication that he was informed by Senate Banking Committee Chairman Sherrod Brown that his panel will not be voting on the SAFE bill before the start of recess on July 31.

READ MORE: Curaleaf Plans Toronto Stock Exchange Listing

This means that the bill will not see a markup until at least September 5 when the Senate is scheduled to return.

Recently signs have emerged that senators have hit an impasse preventing the bill from progressing as fast as many had hoped.

Insiders suggest the holdup is due to continuing disagreements over Section 10 of the bill, which concerns broader banking regulations.

While GOP sponsor Sen. Steve Daines told Marijuana Moment that ‘talks are continuing and we remain hopeful’, they apparently have not been able to come to an agreement in time.


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