Home Political News Schumer Concerned Marijuana Banking Vote Could Undermine Broader Legalization Push

Schumer Concerned Marijuana Banking Vote Could Undermine Broader Legalization Push

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Schumer Concerned Marijuana Banking Vote Could Undermine Broader Legalization Push

In the marijuana reform movement this session there are many key players. But most people are keeping a close eye on Senate Majority Leader Chuck Schumer (D-NY). Now that Democrats are in control of a chamber that for years was in the control of the GOP members, the pro-legalization senator has found himself in a position to lead the charge for broader legalization.

Schumer doesn’t want to risk undermining comprehensive reform by passing more modest changes. Like simply protecting banks that service the state-legal industry. Before tackling broader legalization first.

Schumer along with Senate Finance Committee Chairman Ron Wyden (D-OR) and Sen. Cory Booker (D-NJ) are working on legislation that will federally legalize marijuana if passed. He said that the bill will be introduced “shortly” and placed on the floor “soon.”

Schumer is still not willing to give up any details or specifics on the proposal. But he has emphasized the need to enact cannabis policy change. He has said that the policy he is working on will address social equity. Along with prioritizing small businesses and people most impacted by the drug war. It will aim to incorporate banking protections and he said, “if lawmakers do their job,” it will pass this congress.

Schumer Interview with Marijuana Moment

Schumer was asked about the SAFE Banking Act and if the Senate would follow suit with the House and pass the legislation. He said that the banking and financial issues need to be dealt with but that they should be included with legalization.

The banking act will entice some people to give support that wouldn’t otherwise support legalization. Schumer along with Senator Booker and Wyden is currently working on comprehensive legalization legislation. He hopes to include banking and finance along with social equity programs and reinvestment initiatives.

Now that the House passed the SAFE Banking Act, Schumer was asked if he talked with the Senate sponsors about merging the proposal with the one he and his colleagues are working on.

Although he has not yet talked with anyone about it, he does plan to after he and his colleagues come up with their bill. Schumer is the Senate floor leader, so if he does suggest combining the two pieces of legislation, people are inclined to pay attention to that.

Democrats Not on Board

Several Democrats are split over legalizing marijuana at the federal level. Now Schumer’s biggest obstacle will be his fellow Democrats.

“I don’t support legalizing marijuana,” Sen. Jeanne Shaheen of New Hampshire said in an interview.

Sen. Jon Tester of Montana was also unenthusiastic about ending federal marijuana prohibition. Legalization would “cause more problems than it solves,” Tester said.

Because the Senate numbers are so close between party lines, Schumer cannot afford to lose any votes on his side. Plus, he will need to win over Republicans. In the past, Republicans have had little to no interest in working to legalize marijuana. So, this will be an uphill battle to win over Republicans.

If Schumer cannot find a path to broader legalization this year, with a midterm election approaching, it could mean a long delay in legalizing marijuana on the federal level. Although at least 18 states have already fully legalized marijuana.

Schumer vowed again to push hard for legalization in a Senate floor speech he gave on Tuesday 4/20. The unofficial holiday of marijuana.

Currently, Schumer will need all Democrats to vote with him as well as at least 10 Republicans to avoid a filibuster. As it stands the support needed to pass legalization legislation would most likely fail.

Along with Shaheen and Tester not supporting legalization, Sens. Joe Manchin (D-WV), Bob Casey (D-PA), and Mark Kelly (D-AZ) all said they are undecided on legalization.

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