Schumer Optimistic About Bipartisan Marijuana Banking, Same Says GOP Sponsor, Just Don't Add Anything

Senate Majority Leader Chuck Schumer (D-NY) is gearing up for a renewed legislative push to achieve bipartisan cooperation on marijuana banking reform when the Senate reconvenes next month, reported Marijuana Moment.

In a bid to secure broad support for the Secure and Fair Enforcement (SAFE) Banking Act, Schumer is stressing the importance of a focused approach. The Republican sponsor of the bill expressed cautious

optimism and discourages any attempts to expand its scope.

See also: Bipartisan Support For Cannabis Banking Reform: A Look At The Senate's SAFE Act Hearing, Sen. Warren's Intent To Remove Marijuana From DEA Schedule List

The legislation, introduced by Sens. Jeff Merkley (D-OR) and Steve Daines (R-MT), has already undergone an initial hearing in the Senate Banking Committee and is expected to proceed to markup soon after the 4th of July recess.

While Schumer exudes confidence about the bill's prospects, the crux lies in avoiding any substantial expansion that might deter Republican support.

Daines has said that now is the best opportunity in the current Congress to pass the legislation. However, he said efforts to broaden the bill's scope, as advocated by some justice reform advocates, could impede the bipartisan progress achieved so far.

Schumer intends to attach the Harnessing Opportunities by Pursuing Expungement (HOPE) Act as an amendment on the Senate floor. The HOPE Act incentivizes states to grant clemency to individuals with prior cannabis convictions, adding a significant component to the overall reform effort.

“I actually believe HOPE is part of the Republican calculus here,” said Don Murphy, director of government relations for the Marijuana Leadership Campaign. “I think it’s baked into the cake of the negotiations. It’s been left to give Democrats something to support on the floor to help alleviate the problems they may have elsewhere.”

See also: Schumer, Booker, Wyden Join Chorus At Historic Senate Hearing On Cannabis Banking: Include Broader Reforms

As the Senate seeks to secure at least nine Republican votes for passage, Schumer and Daines recognize the delicate balance required to achieve bipartisan consensus on marijuana banking reform.

While both leaders are aligned in their pursuit of progress, the ultimate success of the bill hinges on maintaining a focused approach and avoiding contentious expansions that might fracture bipartisan support.

Read more here at Marijuana Moment.

Read more: SAFE Banking Has 10 Republicans Votes Needed For Passage, According To Cannabis Industry Insider

Image by Benzinga