President Donald Trump has begun reaching out directly to members of Congress, urging them to pass a marijuana banking bill ahead of next year’s midterm elections, according to two senior Senate staffers.
The GOP staffers, who spoke on condition of anonymity, say the president’s outreach to members of Congress began earlier this week and is part of a renewed push to get the Secure and Fair Enforcement Regulation (SAFER) Banking Act—or similar legislation—through Congress before next November. Although cannabis banking legislation hasn’t been filed yet this session, it’s expected to happen soon, with the co-chair of the bipartisan Congressional Cannabis Caucus saying recently that it’s one of the group’s top priorities.
This isn’t the first time Trump has taken a behind-the-scenes role in advocating for marijuana banking reform. The same two staffers told us back in December that he was privately encouraging lawmakers to pass the SAFER Banking Act. That report was later confirmed by CNN, with an article earlier this month stating “After winning the election, Trump and his transition team quietly backed an unsuccessful attempt to incorporate legislation easing restrictions on banking for marijuana companies into a December continuing resolution to fund the government”.
While Trump has yet to make public remarks on the matter, his recent engagement suggests he views marijuana banking reform as a politically beneficial move—one that could appeal to swing voters, entrepreneurs, and voters in the growing number of states with legal marijuana markets.
Despite bipartisan support and despite being approved by the full House of Representatives, the legislation has stalled repeatedly in past sessions. Trump’s involvement may signal to Republican lawmakers that the issue has traction with the White House ahead of what’s expected to be a closely watched election cycle.
