Late last week, the U.S. House of Representatives passed provisions of the SAFE Banking Act as part of the America COMPETES Act, marking the sixth time cannabis banking legislation has been approved by the chamber.
Because the Senate already passed its own version of the COMPETES Act without cannabis banking language included, there will be negotiations to decide the fate of the banking provisions in the large-scale legislation.
Please take a moment to urge Congress to keep SAFE Banking in the final version of the COMPETES Act.
Lack of access to banking is a serious barrier for state-legal cannabis businesses across the country. It keeps prices high for patients and consumers, hinders social equity efforts, and, due to the cash-only manner of operations, creates risks for workers and communities.
Eighteen states, and the District of Columbia, have now legalized adult-use cannabis, and more states are going to be moving forward with similar legislation. How long will federal lawmakers ignore this issue?
Ask Congress to support retaining basic banking protections for state-licensed cannabis businesses in the COMPETES Act.
The federal government’s failure to pass meaningful banking reform harms the entire cannabis industry, but it disproportionately hurts small-business entrepreneurs, many of which are social equity- and minority-owned companies. Passing cannabis banking reform is a key step toward dismantling federal cannabis prohibition. Please let your federal lawmakers know you want to see SAFE Banking in the COMPETES Act.
- Take Action: Urge your state legislators to support a compassionate medical cannabis program!
Archive
Federal: State-legal cannabis businesses still denied banking access
The New York Times: Marijuana is Safer than Alcohol
Last Sunday, the New York Times published an editorial that compared marijuana and alcohol use, particularly the relative harms of the two substances and the influence people substituting marijuana for alcohol could have on road safety.
But assuming the argument that alcohol and marijuana are “substitutes” bears out, that could be good news, especially for road safety. Of the two substances, alcohol is far more hazardous.
For the most part, marijuana-intoxicated drivers show only modest impairments on road tests. Several studies have suggested that drivers under the influence of marijuana actually overestimate their impairment. They slow down and increase their following distance. The opposite is true of drivers under the influence of alcohol. [MPP emphasis added]
It should be noted that no one should drive under the influence of any impairing substance, including marijuana. Still, the overall impact on public safety due to making marijuana legal will certainly be positive.
The New York Times has a rapidly growing readership and can have a tremendous impact on public opinion. For a paper of this magnitude to recognize and discuss the respective effects of marijuana and alcohol shows real progress in the changing attitudes towards marijuana.