Long-awaited federal cannabis banking reform is expected to sail through a key U.S. Senate panel hearing Wednesday, which would be the first time the landmark legislation has secured a yes vote in the upper chamber of Congress.
But after that, prospects for the bipartisan and heavily negotiated SAFER Banking Act are much less certain, multiple cannabis industry observers told MJBizDaily.
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For once, negative attitudes toward marijuana wouldn’t be to blame.
Instead, the obstacle is the chaos currently enveloping Congress, where a government shutdown looks increasingly likely – although not guaranteed – come Oct. 1.
“If there’s a shutdown, we can reasonably expect that to slow down progress on Capitol Hill across the board,” said David Culver, senior vice president of public affairs at the U.S. Cannabis Council, which represents major cannabis industry interests in Washington DC.
“I’m not going to sugarcoat it: The shutdown is not
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