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 President Trump has yet to make public remarks on the matter since become president in January, during his 2024 campaign he made a social media post stating “As President, we will continue to focus on research to unlock the medical uses of marijuana to a Schedule 3 drug, and work with Congress to pass common sense laws, including safe banking for state authorized companies, and supporting states rights to pass marijuana laws, like in Florida, that work so well for their citizens.”
Despite bipartisan support and despite being approved by the full House of Representatives on multiple occasions and the Senate Banking Committee in September 2023, the SAFE and SAFER Banking Acts have stalled repeatedly in past sessions.
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