Blunts: Prospects Good For SAFE Banking
The Secure and Fare Enforcement (SAFE) Banking Act has repeatedly been passed in the House over the last decade but has failed each time in the Senate. However, insiders on Capitol Hill say there are now enough Republican votes for it to pass in the Senate this year.
Pelorus Capital Group Co-Founding President Rob Sechrist claims that a prominent member of the Senate Banking Committee has secured the 10 Republican votes necessary for Senate passage of SAFE Banking.
“Senator Daines confirmed to me that he does have the ten votes necessary,” Sechrist told Trade to Black podcast. “And the way he worded it was with a lot of confidence, as if he’s got more than necessary.”
A bill on the Senate floor only requires a majority of 51 votes to pass. But senators can keep a bill from receiving a vote unless a 60-vote supermajority agrees to end debate on the matter. If Sechrist is correct, then Sen. Steve Daines (R-MT) has collected enough Republican votes to make sure the bill receives a vote.
Republican Sen. Tommy Tuberville (R-AL) told Alabama Today that Senate Democrats are to be blamed for SAFE Banking’s past failures. “We need to get it passed, but the Democrats obviously control the Senate floor, and there is no way we can get it down there,” he told reporters.
Senate Banking Committee Chairman Sherrod Brown (D-OH) told Marijuana Moment that the committee plans to mark up the bill “soon,” meaning it could receive a floor vote within weeks.
More Pot Shops Than Liquor Stores In ABQ
There are now more cannabis dispensaries located in Albuquerque than liquor stores.
Experts say the city is facing cannabis over saturation as dispensaries open all over the city with no end in sight. According to a report from KRQE, the city approved the applications of 186 marijuana retailers in the first year of operations. About a third of those dispensaries were approved in the last six months.
By comparison, there are only 146 liquor stores located in Albuquerque.
The city says it has received at least 20 requests for exemptions to its rule that dispensaries must be located at least 600 feet apart from each other. Fourteen of those requests have reportedly been approved.
Lawmakers Call for More CBD Enforcement
A House committee is calling for more regulatory enforcement against CBD companies that make health claims about their products.
Federal regulations technically forbid companies from manufacturing over-the-counter CBD products, but the federal Food and Drug Administration (FDA) has turned a blind eye to CBD companies due to public interest.
However, companies are not allowed to make any health claims about CBD products. The House Appropriations Committee recently called on the FDA to “continue and increase” enforcing these rules.
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