A GOP-controlled House committee has voted to strip marijuana banking protections from a large-scale spending bill.
While the legislation as introduced and approved by a subcommittee included language to prevent certain federal regulators from penalizing financial institutions simply for working with state-legal cannabis businesses, that was removed on Thursday by the full House Appropriations Committee.
Rep. Dave Joyce (R-OH)—co-chair of the Congressional Cannabis Caucus, lead sponsor of standalone bipartisan marijuana banking legislation and the chairman of the relevant subcommittee—had secured the banking language in the base bill prior to its removal.
But the House Appropriations Committee on Thursday approved a GOP en bloc amendment to the Financial Services and General Government (FSGG) legislation that included a provision to eliminate that section from the bill.
“With over 40 states enacting some degree of cannabis reform, it is past time that the federal government respect the will of these states,” Joyce said in a statement on Thursday. “This issue is especially pertinent as cannabis regulations have been proven to increase public safety and quality of life for Americans.”
“My Financial Services and General Government bill included provisions to do just that and ensure states’ rights to make the best choices for their
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