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Cannabis Banking Bill Could Pass Congress by Year’s End

It has been a long road for the cannabis banking bill that aims to protect financial institutions that work with the marijuana industry. But analysts say the “SAFE Banking Plus,” has a roughly 70% chance of passing before the end of 2022. The House passed the SAFE Banking Act in 2021 and 2019, but getting the Senate’s OK has proved much trickier.

Ben Koltun, director of research at Beacon Policy Advisors, says this time around there’s a lot of positive momentum. “It’s just can they come to agreement over some of the details that are outstanding?” 

Other insiders reckon that the Plus in SAFE Plus, referring to an expected inclusion of some criminal-justice reform provisions, adds to the challenge. 

“I am getting the sense that Republicans feel like Democrats are asking for too much in terms of concessions,” noted a senior U.S. policy and politics strategist.

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