The Dales Report explains why the SAFE Banking Act for the cannabis industry is unlikely to pass during the lame duck session:
“We’ll discuss the reasons behind its delays, the role of Senate Majority Leader Chuck Schumer, and the implications for the cannabis industry and investors.
The SAFE Banking Act has faced numerous hurdles, despite bipartisan support. The Senate’s competing legislative priorities during the lame duck session, including critical budget bills, have taken precedence. Schumer’s focus on comprehensive cannabis reform with social equity provisions has further complicated the bill’s progress.
Political maneuvering and opposition from key lawmakers have caused multiple delays. Schumer has emphasized the need for broader reform, slowing the SAFE Banking Act’s advancement. Additionally, Republican leaders have blocked attempts to include banking reform in larger legislative packages.
In summary, the SAFE Banking Act is unlikely to pass during the lame duck session. As we move forward, the cannabis industry and investors will continue to watch closely, hoping for more decisive action on cannabis banking reform. Stay connected!”
Video from The Dales Report
