Bipartisan legislation to allow marijuana banking nationwide gained two new sponsors yesterday, bringing the total to 122.
Yesterday Congressmembers Debbie Dingell (D-MI) and Rick Larsen (D-WA) joined as official cosponsors to the SAFE Banking Act. The measure now has 122 total sponsors, well more than any previous marijuana-related bill.
The SAFE Banking Act and the Senate’s SAFER Banking Act, which has 36 sponsors, would offer federal protections for banks and credit unions that choose to provide financial services to marijuana businesses legal under their state’s law. Additionally, the legislation would allow state-legal marijuana businesses to take standard IRS tax deductions, which is currently forbidden.
Continue reading