Colorado Treasurer Discusses Need For Federal Marijuana Banking Reform And Impact Of Senate Inaction

As congressional lawmakers continue to push for the passage of federal marijuana banking legislation, state treasurers across the U.S. are making clear their support for the policy change. And Colorado Treasurer Dave Young has been among the most vocal in his advocacy for the banking fix.

Young, who moderated a panel focused on cannabis banking issues at an annual conference of the National Association of State Treasurers (NAST) this week, spoke to Marijuana Moment on Thursday about the importance of ensuring that financial institutions are protected from being penalized by federal regulators for working with state-legal marijuana businesses.

Moderated by Colorado Treasurer Dave Young, the panel discussed the history, challenges, and prospects for #SAFEbanking laws that would allow legal #cannabis businesses into the mainstream banking system. https://t.co/aNykMX8050pic.twitter.com/TWC1eQwUS0

— Colorado Treasurer Dave Young (@ColoTreasurer) March 15, 2022

The enactment of the Secure and Fair Enforcement (SAFE) Banking Act, sponsored by Rep. Ed Perlmutter (D-CO), would accomplish that, he said. The bill has cleared the House in some form six times at this point, but it’s yet to advance in the Senate under Republican or Democratic control.

At Tuesday’s NAST panel, Young conveyed to policymakers and congressional officials in the audience that this is not simply a matter of normalizing an industry that has been largely cut off from the federal financial system—it’s also a public safety imperative. Marijuana businesses in his and other states have been routinely targeted by criminals because many are forced to operate on a largely cash-only basis, he said.

It’s also a point that Perlmutter, who is retiring from Congress at the end of this session, has made. It’s part of why he’s expressed frustration with Senate Democratic leadership, which has declined to take up the SAFE Banking Act before advancing comprehensive legalization, in part because they feel it’s primarily meant to benefit the industry.

What he said 👇

The House has done their job and passed #SAFEBanking 6 TIMES. It's time for the Senate to act.#SAFEBanking#cannabis#copoliticshttps://t.co/EFkpKDs71H

— Rep. Ed Perlmutter (@RepPerlmutter) March 15, 2022

The congressman has pledged to “continue to be a real pest, and persistent in getting this done,” he said at a recent event organized by the American Bankers Association (ABA), which also recently released a poll showing majority public support for marijuana banking reform. Young said that he appreciates the sponsor’s resolve and would continue to do what he could to advance the issue.

Despite recently saying that he’s “confident” that the Senate will take up his bill this session, Perlmutter recognized that while he’s supportive of revisions related to criminal justice reform, taxation, research and other issues, he knows that “as we expand this thing, then we start losing votes, particularly Republican votes and we got enough votes in the Senate to do it” as is.

Meanwhile, the number of banks that report working with marijuana businesses ticked up again near the end of 2021, according to recently released federal data.

Marijuana Moment spoke to the Colorado treasurer about the push for marijuana banking reform, the consequences of Senate inaction and more. The following interview has been edited for length and clarity:

Marijuana Moment: Can you talk about the SAFE Banking Act in the context of public safety? I understand that many cannabis businesses in Colorado and other states have been targeted by crime over the years because of this federal policy conflict.

Dave Young: Any time you have large amounts of money flowing around in cash, it’s a huge danger. This is different than what you see with convenience stores that gets robbed—the amount of money here is extraordinary.

Then there are stories about the fact that, because of the uncertainty that ancillary businesses have for engaging with these companies, [cannabis businesses] have a hard time finding an armored car service that will actually take them up on a contract and move the money. I’m not sure if that’s consistent across the country, but I think it’s the inconsistency that businesses find themselves in that’s the problem.

We’ve seen some banks are willing to take risks—credit unions or whatever—to take some of these deposits, but the fee that they have to pay and the [suspicious activity reports] that they have to do—and really what they can and can’t do with the money—is pretty limited. As a result, this just isn’t conducive to taking that money out to the streets. So you’ve got large amounts of cash moving around. And so you’ve got robberies, you’ve got violence. And even, my understanding is, there’s been murder in in the midst of that. Not doing something isn’t going to improve that situation.

As lawmakers continue to push for the passage of federal marijuana banking legislation, state treasurers across the U.S. are making clear their support. And Colorado Treasurer Dave Young has been among the most vocal in his advocacy for the banking fix. https://t.co/hBiG5DIfXbpic.twitter.com/L5qWwK10fe

— Colorado Treasurer Dave Young (@ColoTreasurer) March 18, 2022

MM: Adult-use marijuana sales have dipped slightly over the past couple months in Colorado. Do you feel like the state’s market is stabilizing? To what extent would you attribute the dip to legalization being enacted in other states?

DY: I think that’s always been the speculation of what would happen as other states move forward. Certainly, when you were one of two or one of five [legal states], you’re certainly going to attract more attention than when it’s more prevalent as it’s becoming now.

Before I became treasurer, I was in the state House, and I was on the Budget Committee for four years. We had a number of programs that are funded through various revenues that come in through marijuana taxation. And one of them that I manage now is a program to help us repair or build schools in locations around the state that that are struggling with health and safety issues with their school building.

In part—not all the revenues, but in part—some of the marijuana revenues and other sources of revenues is going to pay the debt service for that program. And we’ve essentially run into our own little bit of a stalemate on raising the debt service limit—that we can take on more more debt so that we can move more projects forward—due to the concern about the consistency of the revenue stream coming from there.

This uncertainty about [federal] legalization as well—particularly when the [Justice Department] Cole Memo was rescinded—raised some concerns. What can we count on in the future? It’s always a little bit more uncertain when those things happen.

There’s tremendous need right now, and that’s increased somewhat. But I think everybody’s got eyes on what is happening with the industry. What can we estimate for revenues?

MM: Perlmutter has frequently talked about his frustration over inaction in the Senate on the SAFE Banking Act. Do you share that frustration? And what would you say to Senate Majority Leader Schumer, who the congressman has largely placed blame on for that inaction based on the leader’s insistence on passing broad legalization first?

DY: I think Congressman Perlmutter is in a much better place to assess that than I am I. I don’t live there [in D.C.] and work there day in and day out like those in Congress must do. I get a flavor of what’s happening, but having served in a much different kind of role, but similar role as a state representative, there are always a lot of advocacy interests, stakeholders that are involved in any process. And if a problem was easy to solve, it would have been solved long before it got to a state legislature or to Congress, right?

The fact that we struggled with these is because there’s a wide diversity of opinion about how to move forward. And sometimes it’s not even a majority—you can’t find a majority no matter how you put the pieces together. And so to point a finger at anybody—I’m going to not blame, I’m just going to say, I think that every every elected official is always looking for a way to put a coalition together to get enough votes to get the work done. And if they can’t, then how do they refashion a bill so they can create that coalition, create that at least majority, if not consensus, on how to move forward? This is obviously a very difficult topic.

Maybe the broader bill gets tried and maybe it passes, maybe it doesn’t, but maybe once something happens—if it doesn’t pass, it gives a little momentum to a more narrow approach, an effort to come back and say, well, doing nothing really doesn’t make sense there. If we can’t get a broader bill across the finish line, not doing anything means that these public safety issues are going to continue to be a problem. There’s going to be continued crime and harm and and lots of uncertainty among not just the businesses directly [in cannabis], but these ancillary businesses that are anxious to support them.

I was excited to moderate this morning's conversation around #SAFEBankingAct, and bringing the cannabis industry into mainstream banking with the @StateTreasurers.

— Colorado Treasurer Dave Young (@ColoTreasurer) March 15, 2022

MM: During your time in Washington, D.C. for the NAST conference, can you share the kinds of conversations you had with lawmakers on the Hill about advancing SAFE Banking?

DY: I met with both [Sen. John Hickenlooper (D-CO) and Michael Bennett (D-CO)] and had great conversations with them. I think they’re obviously supportive of getting a bill in some form or another across the finish line. And I think both are trying to work on that given some political realities that they see.

They support [Perlmutter’s] bill. But there’s just the question of, can the Senate, can Congress, get a broader bill through? And if so, what does it look like? And if not, what happens then? I think that what I said earlier pretty much echoes the conversations that I had with them.

Meeting with other state treasurers and lawmakers in DC this week to discuss #cannabis banking. https://t.co/mtxKaeM7uF

Legal retailers must be allowed out of the cash business to stop the inequities and traumatic daily robberies taking place in #WA state and around the country.

— WA State Treasurer (@WaTreasurer) March 16, 2022

MM: Absent the passage of the SAFE Banking Act, we still have 2014 federal FinCEN guidance for banks to offer some level of protections for financial institutions that work with state-legal marijuana businesses. Do you feel it’d be helpful for the agency to provide any additional clarity as lawmakers work on a more permanent fix?

DY: I haven’t thought about that much, to be honest with you. But I don’t think clarity ever hurts. What you can do as an agency versus actual work legislatively sometimes is limited, just because of the configuration of the statutes or the law. But I think clarity always helps.

Some parts of our economy are a little bit more risk-tolerant and are okay waiting without that clarity. But for the most part, many are not—both within the financial industry itself and these ancillary businesses included. Clarity would help a bit. Though how far it can go? I don’t know.

Marijuana Legalization Hasn’t Led To More Youth Use, Report From Alcohol And Tobacco Industry-Backed Group Says

Drug Possession To Be A Misdemeanor—For Now—Under Washington State Bill Headed To Governor’s Desk

As Washington State’s legislative session drew to a close this weekend, lawmakers approved a bill that for the next two years would make drug possession a misdemeanor. After that, the criminal penalties would disappear—a move designed to force lawmakers back to the negotiating table.

The measure is a temporary response to a state Supreme Court decision in February that struck down Washington’s felony drug possession law as unconstitutional, ending the prohibition of simple possession. Some progressive lawmakers have called the ruling an opportunity to leave the drug war behind, while moderates and conservatives have insisted that reinstating criminal penalties is necessary to incentivize people to enter treatment.

In an attempt at compromise, the bill’s criminal penalty provisions will expire on July 1, 2023, again leaving Washington without a law against drug possession. The sunset clause is meant to give lawmakers time to craft a more permanent replacement or surrender the issue to local jurisdictions. In the meantime, the state will assemble an advisory committee to develop recommendations on how to best ensure that people with substance use disorder receive care.

It rejects the felony model that does not work & focuses on diverting those with substance use disorder into treatment. Makes possession a simple misdemeanor for the next 2 yrs while #WA builds out our behavioral health system & works to find the best path forward. #waleg 2/2

— WA House Democrats (@WAHouseDems) April 24, 2021

An amended version of the bill, SB 5476, passed the House of Representatives on a 80–18 vote on Saturday. Later that evening, the Senate accepted the House-amended version and voted 26–23 to send the final bill to Gov. Jay Inslee (D) for his signature.

“This bill is not an ideal solution, but it is a thoughtful step forward,” sponsor Sen. Manka Dhingra (D) said in a statement following the measure’s passage. “It achieves three important goals. First, it establishes a statewide approach to addressing drug possession. Second, it prioritizes and funds treatment for substance use disorder. And third, it provides us the time to come up with a public health approach to substance use disorder that relies on best practices and access to treatment that takes into account equity.”

Watch the Senate floor debate and final passage of the bill:

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Dhingra initially introduced the bill with language that would have removed all penalties for possession of small, “personal use” amounts of controlled substances, with people instead diverted to an evaluation and possible treatment for substance use disorder. But the Senate stripped out that provision last week and replaced it with a gross misdemeanor charge, which carries up to a year in jail—a move that caused Dhingra to vote against her own bill as amended.

A House committee later reduced the penalty to a simple misdemeanor, which carries up to 90 days in jail and a maximum $1,000 fine.

While the simple misdemeanor remains in the final legislation, most people aren’t expected to see criminal charges for their first few offenses. As passed, SB 5476 requires law enforcement to recommend people to a behavioral health assessment for their first two violations, with the possibility for further diversion after that.

To fund the expanded outreach, treatment and recovery services, an amendment passed on the House floor sets aside nearly $100 million in funding, including earmarking $45 million to establish a “recovery navigator” program, which would provide community-based treatment and long-term case management for people with substance abuse disorder. Among other appropriations, it would also use $12.5 million to establish an outreach program for unhoused people, $5 million to expand efforts to provide opioid use disorder medication in jails and $4.5 million to expand the state’s therapeutic court model to local courts, which have jurisdiction over most misdemeanor cases.

"Our work is not done, but this bill invests in what we know we need, an approach to substance use disorder that treats all our neighbors with the dignity and compassion they deserve." – Rep. Kirsten Harris-Talley on the House striker to SB 5476 #walegpic.twitter.com/YI2d2YTqv9

— WA House Democrats (@WAHouseDems) April 24, 2021

Another amendment adopted on the House floor came from Rep. Lauren Davis (D), who earlier this year introduced a separate bill, HB 1499, to decriminalize drug possession and expand treatment. Her change specifies the composition of the state’s substance use recovery advisory committee—which would include a elected officials, substance use disorder experts, treatment and recovery providers, law enforcement, an antiracism expert, a tribal representative and people living with substance use disorders—and requires that the group submit a preliminary report by the end of the year.

A House amendment from Rep. Roger Goodman (D) made a number of changes. One moved the new system’s point of diversion farther upstream, requiring that law enforcement—not prosecutors—refer people to treatment. That, he said, will prevent most people caught with drugs from being booked into jails or charged.

A more notable change in Goodman’s amendment modified the bill’s expiration provisions. An earlier version of the bill would have automatically replaced the misdemeanor penalty in 2023 with a Class 2 civil infraction, which carries a $125 fine and no possibility of jail time. Goodman’s amendment specified that instead the misdemeanor penalty would simply dissolve.

Some drug reform advocates initially read the proposal as a step to further criminalize drug possession. Treatment First WA, a coalition of groups that support decriminalization, sent an action alert to its followers urging opposition to the amendment, which it said “would return Washington to exactly the same failed and racist War on Drugs policies in place today.”

The ACLU of Washington posted a similar action alert against the amendment.

⚠️Deadline: Sunday! We can’t go back to the War on Drugs.

Tell your legislator to pass a version of ESB 5476 that stops treating people like criminals for drug use and substance use disorder.https://t.co/o7fxwPp263

— ACLU of Washington (@ACLU_WA) April 24, 2021

Goodman told Marijuana Moment in an interview Saturday night that he felt those criticisms were mistaken. The law would not revert to criminal penalties, he stressed, but to what it is today—with no law against drug possession in place.

“It does not sunset to criminalization,” Goodman said. “That’s absolutely incorrect.”

Watch the House floor debate on and passage of SB 5476, around 6:00 into the video below:

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Goodman, a longtime drug reformer, believes that expiring the prohibition on drug possession entirely will encourage his colleagues to revisit the issue and craft a more durable policy. He’s betting that after reforms in SB 5476 take place, and as the legislature begins to hear back from the new advisory committee, skeptics of reform will be more willing to accept a more treatment-focused approach.

“The conversation on the failure of the drug war only keeps going the same direction. We’re almost at the tipping point now where we are at a completely new paradigm,” he said, noting that he’s heard support for reform from both Republicans and police, groups who often oppose easing criminal penalties. “Two years from now, that conversation will mature further and be even more progressive. The voters and the legislators and the public will be moving that direction. We have to go slow and steady, unfortunately.”

Goodman acknowledged that there’s some risk to his proposal. “The legitimate concern is that in 2023, the legislature won’t act, or the legislature’s makeup will be different and the will to act won’t be there,” he said. “I think it’s not likely that the legislature will fail to act.”

But if the House had sent the bill back to the Senate with the misdemeanor set to expire into a civil infraction, he added, senators would’ve rejected it.

He described the final version of SB 5476 as “the best we could do in the raw politics and vote counting, and I think it’s a step in the right direction.”

Goodman told Marijuana Moment last week that with the state legislative session set to end Sunday, there would be no time for the Senate to do anything but either concur with or reject the House version of the bill, “so we are having to confer closely with the Senate to see what they are willing to pass.”

If SB 5476 were to fail, the state would continue on without a drug possession law on the books following the court ruling—but also without the nearly $100 million in additional funding for treatment or any tools to compel people to seek help. While votes fell largely along party lines on Saturday, both Democrats and Republicans in recent weeks have said it was essential the legislature pass a law to fill the hole left by the Supreme Court decision.

On the Senate floor, however, GOP members balked at the House’s amendment to downgrade the possession penalty from a gross misdemeanor to a simple misdemeanor, saying that sometimes it’s necessary to use the threat of incarceration to force people to get treatment they might not otherwise seek.

“You have to give them the stick and not the carrot here, because they’re not going to take that option, they don’t have the capability of making that decision,” said Sen. Lynda Wilson (R).

On the House side, GOP representatives introduced a number of amendments that would have increased penalties, including a pair of amendments brought during floor debate that would have increased returned the simple misdemeanor to a gross misdemeanor, as the Senate had passed it earlier in the week, but House Democrats rejected those changes.

While some Democrats lamented the return to criminal penalties under the bill, they generally supported its passage. They pointed out that decades of criminalizing drug use has failed to meaningfully reduce either use or the negative consequences of substance abuse disorder. It’s also led to disproportionate arrests, prosecutions and incarceration of Black, brown and Indigenous people

“Decades of putting people in jail for drug offenses has been a failure,” Rep. Jamila Taylor (D) said in a statement. “The system today hurts those it should be helping, and it is time for change. Change that puts people in treatment instead of prison.”

Rep. Davis, who repeatedly stressed the need for more investment in outreach and recovery services during hearings on her decriminalization bill, said the new bill represents “the first time in state history that we have ever made substantial improvements in the outreach services that connect people to care on the front end and recovery support services on the back end that help them achieve long-term recovery.”

Because it contains an emergency clause, the bill would take effect immediately upon being signed by Gov. Inslee. He’s politically aligned with many of the bill’s supporters but has not yet indicated publicly whether he intends to sign it. A spokesperson for Inslee told Marijuana Moment on Sunday that the governor’s office had “not received it and staff have not had time to review it for final recommendation.”

State Attorney General Bob Ferguson (D), meanwhile, recently jumped into the fray, urging lawmakers on Thursday “to reject criminal penalties for non-commercial drug possession.”

Statement on criminal penalties for simple drug possession: https://t.co/YfX3RoaCDn#walegpic.twitter.com/17mL8qiYaQ

— Washington State Attorney General (@AGOWA) April 20, 2021

Washington voters, for their part, are generally supportive of decriminalization, according to a statewide poll commissioned by reform advocates and released earlier this month. Fifty-nine percent of those surveyed said lawmakers should use the state Supreme Court decision to “reconsider and replace past drug possession laws with more effective addiction and treatment alternatives,” while only 35 percent favored making a technical change to return to the past system.

Nearly three in four voters (73 percent) said the state’s approach to problematic drug use has been a failure. Just nine percent called it a success.

Some reform advocates have floated the possibility of decriminalizing drugs in Washington through a ballot initiative similar to the one passed in Oregon. HB 1499, the decriminalization measure introduced earlier this session, was itself an offshoot of an effort by Treatment First Washington to put an initiative on last year’s ballot. That campaign, however, was scuttled after the COVID-19 pandemic interrupted signature-gathering.

Outside the Pacific Northwest, lawmakers in both Maine and Vermont have recently unveiled legislation to decriminalize small amounts of controlled substances. Last month, a Rhode Island Senate committee held a hearing on legislation that would end criminal penalties for possessing small amounts of drugs and replace them with a $100 fine. And in New Jersey, Gov. Phil Murphy (D) recently said he’s “open-minded” on decriminalizing all drugs.

In California, a bill that would legalize possession of a wide range of psychedelics passed its second Senate committee earlier this month.

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Marijuana Legalization Will Get A Floor Vote This Congress, Key Chairman Predicts

The chairman of the House Judiciary Committee said on Tuesday that he’s optimistic about the prospects for getting his comprehensive marijuana legalization bill out of committee and onto the floor by the end of this Congress.

During a press conference with lawmakers and advocates, Chairman Jerrold Nadler (D-NY) also told Marijuana Moment that part of the reason he expects floor time is because he’s actively communicating with other committee chairs, requesting that they waive jurisdiction of the reform legislation to expedite its progress.

The Marijuana Opportunity Reinvestment and Expungement (MORE) Act, introduced by Nadler, would federally deschedule cannabis and provide for expungements and reinvestments in communities most impacted by the war on drugs. The panel confirmed that members will mark up the legislation on Wednesday at 10:00 AM ET.

The chairman—as well as Reps. Barbara Lee (D-CA), Earl Blumenauer (D-OR), Nydia Velázquez (D-NY), Steve Cohen (D-TN), Pramila Jayapal (D-WA) and the executive directors of the Drug Policy Alliance (DPA) and Law Enforcement Action Partnership (LEAP)—spoke at the event.

Watch lawmakers discuss the federal marijuana legalization vote below: 

While the MORE Act has been referred to seven additional committees, Nadler told Marijuana Moment that his panel is “carrying on conversations” about getting other panels to waive jurisdiction.

“I don’t anticipate that to be a big problem,” he said. “We are looking forward to moving this to the floor at an appropriate time when we’ve done some more educational work and have the votes.”

“For too long, our federal cannabis policies have been rooted in the past,” Lee, who serves as co-chair of the Congressional Cannabis Caucus, said, adding that this bill is “rooted in equality, justice and fairness.”

For too long, our federal cannabis policies have been rooted in the past! Proud to work with @RepJerryNadler on the MORE Act, which decriminalizes marijuana at the federal level, enacts restorative justice, and makes the cannabis industry more diverse and equitable. #WeWantMOREpic.twitter.com/w3narSOOP8

— Rep. Barbara Lee (@RepBarbaraLee) November 19, 2019

Blumenauer said that the country has “seen more progress is the last 40 months than we’ve seen in the last 40 years” when it comes to marijuana policy.

“We shouldn’t settle any longer for incremental change,” he said. “We must commit to the restorative justice that’s in this.”

“This is the Congress that can end the failed prohibition of cannabis.”

Nadler said that he expects the bill to clear his panel with bipartisan support, predicting that more Republican members will sign onto the legislation as it advances.

To that end, Rep. Matt Gaetz (R-FL), who is so far the lone GOP cosponsor of the MORE Act, told Marijuana Moment that he’s “pleased to see historic steps being taken in the Judiciary Committee on the issue of cannabis.”

“The MORE Act is not perfect, but it advances the discussion on cannabis reform and allows the Congress to take much-needed action on this important issue,” the congressman, who is a member of the Judiciary Committee, said. “I look forward to participating in the discussion this week.”

The bill would also help small businesses in the industry by prohibiting SBA resource partners from declining to serve a #small biz just because the are cannabis-related and by establishing an SBA grant program to help small businesses navigate the cannabis licensing process.

— House Committee on Small Business (@HouseSmallBiz) November 19, 2019

Nadler left open the possibility that lawmakers could make compromises on the legislation later down the road, but he added that he doesn’t believe it will have to come to that, and that it would be a mistake to scale down the legislation at this early stage of the process.

“This will remove a stain on people’s record but really a stain on the United States of America,” Cohen said. He also joked that when Blumenauer described the bill as the “best piece of cannabis legislation” he’s seen, another way of putting it is that the MORE Act is the “Acapulco Gold of marijuana legislation,” referencing a variety of cannabis popular in the 1960s.

.@RepCohen: The MORE Act is the Acapulco Gold of marijuana law reform legislation. #WeDeserveMOREpic.twitter.com/8sRdJCUTyl

— NORML (@NORML) November 19, 2019

More than 650K people are arrested for marijuana offenses every year. The failed War on Drugs is a stain on our country, and we must work to undo the damage it caused. The #MOREAct would legalize #marijuana & require resentencing and expungement of old convictions. #WeDeserveMOREpic.twitter.com/s9S7Lm565V

— Steve Cohen (@RepCohen) November 19, 2019

Maria McFarland Sánchez-Moreno, executive director of DPA, said that “marijuana prohibition has, for millions of black and brown people in the U.S., been the gateway to arrests, incarceration, loss of livelihoods and lives.”

“Those are concrete, real harms, that affect real people every day,” she said. “Continuing the status quo of prohibition is not just inaction: it means turning your back on those harms, and condemning hundreds of thousands every year to continuing that misery and oppression.”

“What is most important here [is] this will free up law enforcement resources to a great level,” Neill Franklin of LEAP said. “I hope that others realize what this will do for public safety coast-to-coast in this country.”

Rep. Lou Correa (D-CA) tweeted support for the MORE Act during the press conference and said that “[a]s more states fully legalize cannabis, it’s time for Congress to decriminalize it.”

As more states fully legalize cannabis, it’s time for Congress to decriminalize it. The MORE Act will:

✅ Deschedule cannabis ✅ Expunge low-level offenses ✅ Create 5% federal tax on cannabis

I’m proud to be a co-sponsor of this bill. It’s time to move forward. https://t.co/85cnQUuwJF

— Rep. Lou Correa (@RepLouCorrea) November 19, 2019

There’s been significant pressure from reform advocates to advance the legislation, especially since the full House overwhelmingly approved a bill that would protect banks servicing marijuana businesses from being penalized by federal regulators.

Several reform groups, including the ACLU, wrote a letter to House leadership ahead of that vote asking for a delay, arguing that Congress must pass comprehensive legalization that addresses social equity concerns before moving ahead with legislation viewed as largely favorable to the industry.

Historic vote planned in @HouseJudiciary. The MORE Act would deschedule marijuana & provide restorative justice to those hurt by the failed War on Drugs.

This vote wouldn’t have been possible without the work of CPC members @RepJerryNadler, @RepBarbaraLee & @RepEarlBlumenauer. https://t.co/rCCNJvNqhq

— Progressive Caucus (@USProgressives) November 19, 2019

Meanwhile, some feel that the House would be better off voting on a more limited, states’ rights-focused reform bill such as the Strengthening the Tenth Amendment Through Entrusting States (STATES) Act, which would simply carve out an exception in federal law allowing states to implement cannabis programs, because they believe it stands a better chance at passing in the GOP-controlled Senate.

While observers generally expect the MORE Act to pass out of committee as well as the House, there are still questions about what kind of amendments members might offer and how that will impact the vote.

#WA voters recognized the harm of the war on drugs in 2012 when they voted to legalize cannabis. Now, I’m proud to support the MORE Act, so we can give back to minority communities adversely impacted by this futile crackdown. https://t.co/UyIdgvUMDB

— Rep. Pramila Jayapal (@RepJayapal) November 19, 2019

In any case, Wednesday’s vote will be one of the most highly anticipated congressional developments in the cannabis reform movement, with members not just debating the end of federal prohibition—which happened in a House subcommittee in July—but actually voting on a bill that would accomplish that, and more.

Key Congressional Committee Officially Schedules Vote On Marijuana Legalization Bill