WASHIINGTON–Will this be the Congress that finally reverses the federal prohibition on marijuana-related businesses, at least in states where voters have given the OK
to legalization?
One recent report suggested the odds are as high as 75% that this Congress will pass legislation similar to the SAFE Act proposed in the prior Congress, which would remove the threat of federal criminal prosecution against credit unions that serve cannabis-related businesses.
“I would hesitate to put a number on it,” said CUNA’s chief advocacy officer, Ryan Donovan, during a press call prior to the testimony of Rachel Pross of Maps Credit Union before a House committee hearing. “But I would say the conditions are as good as they have ever been for legislation to proceed. This could generate some momentum in the House. What I do think about this Congress is given the divided nature, they are going to look for issues where there is some common ground between the two chambers, and there is some here.”
Donovan added that a clearer picture will emerge as Congress moves past the threat of another federal shutdown and into a more “normal” environment.
“The chances (of passage) have really been enhanced over the past few months,” said Donovan. “Seventy-five percent might be a little high, but the chances are better than they were in the last Congress.”