The legislation would allow legal marijuana businesses to use major financial and banking institutions.
The legislation, known as the Secure and Fair Enforcement Regulation Banking Act, would allow legal marijuana businesses toby a 14-9 vote with the support of Republican Sens. Cynthia Lummis of Wyoming, Steve Daines of Montana and Kevin Cramer of North Dakota. Only one Democrat, Sen. Raphael Warnock of Georgia, voted against approving the bill for floor consideration.
Senate Majority Leader Chuck Schumer, D-N.Y., said in remarks on the Senate floor Wednesday morning that he would soon bring the legislation to the floor for full Senate consideration. Senators are then expected to have the chance to offer amendments to the bill. In a statement, the bill's sponsor, Sen. Jeff Merkley, D-Ore., said that advancing the measure out of committee marked a"historic moment" and that he is"committed to building bipartisan momentum to finally get a bill signed into law that ends the cannabis cash economy and improves public safety across the nation."
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