Chuck Schumer's Senate Agenda: TikTok, Ukraine, Collapsed Bridge — And Even Cannabis Banking

In a Friday letter laying out his legislative priorities to the Senate, Majority Leader Chuck Schumer (D., N.Y.) came out swinging, albeit diplomatically, at "MAGA extremism" and recent attempts by some to force a "harmful and pointless government shutdown." Schumer then thanked the body for passing a bipartisan funding package to avoid the shutdown. The Senate is reconvening on Monday after a two-week recess.

Cannabis Gets A Mention

Apart from pushing for bipartisan efforts to reconstruct the Francis Scott Key Bridge and support for initiatives such as aid to Ukraine, the Child Tax Credit, TikTok legislation, combating the fentanyl crisis and addressing rail safety, Schumer also called on colleagues to "safeguard cannabis banking."

Schumer was referring to the Secure and Fair Enforcement Regulation (SAFER) Banking Act, which was approved by the Senate Banking Committee in September 2023. The bill seeks to enable legal cannabis businesses access to banks and financial institutions, which up to now have been off limits. The bill has languished since then.

Cannabis reform is a topic of great interest that will be discussed at the upcoming Benzinga Cannabis Capital Conference in Florida on April 16-17.

Safer Banking Is Complicated & GOP Rep Weighs In

Senate Banking chair Sherrod Brown (D-OH), who called moving the SAFER Banking Act off the floor a "high priority," acknowledged in March that it's complicated.

“We’ve got a House that’s still not moving on stuff that matters to Republicans. The truth is that’s really pushed us back on what we can do in the Senate with floor time,” he said.

Meanwhile, on the other side of the aisle, Rep. Nancy Mace (R-SC) advised her GOP colleagues this week to get behind cannabis banking if they want to keep the House and their jobs.

“I can tell you that Republicans that represent purple districts overwhelmingly support SAFE—and then some. So if Republicans want to keep the House, it’s a good bill to have on the floor. Conservatives can vote no all day long. The rest of us can vote for our districts, which would be to support SAFE, and there are votes in the House to pass SAFE,” Mace said in a Wednesday interview on The Dales Report’s “Trade To Black” podcast.

The Benzinga Cannabis Capital Conference is returning to Florida at a new venue in Hollywood on April 16-17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world. Get your tickets now on bzcannabis.com – Prices will go up soon! 

Photo of Chuck Schumer: Benzinga edit with Wiki photo