Blumenauer: US House will pass cannabis banking reform, consider rescheduling

A leading pro-marijuana lawmaker predicted Friday that the U.S. House of Representatives will approve cannabis banking reform and a committee will look at marijuana rescheduling later this year.

U.S. Rep. Earl Blumenauer, an Oregon Democrat and a longtime champion of marijuana issues, made his remarks at his annual media teleconference in advance of the unofficial 4/20 holiday. During the 25-minute discussion, Blumenauer:

  • Predicted the full House will overwhelmingly pass the SAFE Banking Act, perhaps later this spring. The banking bill would provide federal protections to financial institutions and insurance companies that serve state-legal cannabis businesses and ancillary companies.
  • Said he anticipates the House Judiciary Committee will look at possible rescheduling of marijuana sometime this summer. He attributed the information to a conversation with Judiciary Chair Jerry Nadler, a New York Democrat.
  • Expressed optimism that movement will occur in legislation granting military veterans access to medical marijuana.
  • Noted increases in support for cannabis even in the Republican-controlled Senate.

Blumenauer also talked about how public support for marijuana is growing, pointing to a survey released Friday that found legalization was favored by 65% of Americans, an all-time high for CBS News polling on the issue.

He separately likened the support for medical marijuana to the Fourth of July: “There’s almost universal acceptance.”

Blumenauer predicted last October that momentum for marijuana reform would become “unstoppable” if the House flipped to Democrats, which it did.

At the time, he unveiled a blueprint for action, which he said he has discussed with House committee chairs and plans to update.

Jeff Smith can be reached at jeffs@mjbizdaily.com

6 comments on “Blumenauer: US House will pass cannabis banking reform, consider rescheduling
  1. david on

    Thank You Rep. Blumenauer,
    How about putting in a regulation that limits the ability for criminals like killers and rapist and non local corporations from applying. If not, how about a huge tax like California’s so that the black market can live long and prosper.

    Reply
  2. Curt on

    Also expunge all marajuana convictions so us good hard working people don’t have a record which prevents us from bettering ourselves.

    Reply
  3. Jill on

    No-one should be labeled a criminal over a plant. Cannabis heals and pills kill!!!! Ty Mr. Blumenauer for ALL you are doing for us!!! For those with chronic pain and different diseases are being treated and cured…I’m fighting for my life, please HELP US get our natural medicine!!!

    Reply
  4. Terry Lynch on

    It’s long past time to recognize cannabis like liquor is not the problem, it’s the consumer but no one finds the MJ user aggressive. This current system is crafted to protect pill pushers’ products.

    Reply
  5. Kim siers on

    It should be legal in every state its a better way to treat medical problems than taking all the perscriptions that has bad side effects. Rember no one has ever o.d on weed

    Reply

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