The lead GOP Senate cosponsor of a bipartisan marijuana banking bill says a planned floor vote is on pause until he can ensure the legislation will later pass the Republican-controlled House, according to a cannabis financing executive who spoke with the senator this week.
While the House prospects of the Secure and Fair Enforcement Regulation (SAFER) Banking Act have long factored into Senate leadership’s thinking, Sen. Steve Daines (R-MT) apparently made it clear in his conversation with Pelorus Capital Group President Rob Sechrist on Tuesday that until he’s assured there’s a pathway to passage in the opposite chamber, the bill will not be taken up on the Senate floor.
That represents a notable rhetorical shift, as Senate Majority Leader Chuck Schumer (D-NY) has said repeatedly since the bill cleared the Senate Banking Committee last month that he intends to bring the legislation to the floor for a vote “as quickly as possible,” without explicit mention of that step being contingent on House dynamics.
Sechrist, paraphrasing, told Marijuana Moment on Thursday that Daines said to him at a National Republican Senatorial Committee (NRSC) event in California that he’s “going to slow this down until there’s a clear path through on the
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