Republican senator withdraws amendment to marijuana tax – tech2.org

Republican senator withdraws amendment to marijuana tax



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The Republican leadership of Congress is blocking the consideration of a measure to allow marijuana companies to deposit their profits in banks.

Many financial institutions currently fear serving cannabis companies that are legal in a growing number of states because of the ongoing federal ban and the badociated risk of coming into conflict with money laundering and drug laws.

As a result, many marijuana cultivation, processing and retail operations carry out cash business, making them targets of theft.

Congressman Ed Perlmutter (D-CO) wants to solve this problem. Last Wednesday, at a meeting of the House Financial Services Committee, he offered an amendment that would have prevented federal authorities from punishing banks just for working with legal marijuana businesses.

"The regulatory confusion surrounding marijuana and banking must be resolved," Perlmutter said during the marking. "The prohibition is over, this committee has the responsibility to align the laws of the United States with those of the states so that there is no confusion, public safety is at risk."

Perlmutter referred to the case of a veteran of the Iraq War who died during a robbery while working as a security guard at a marijuana retail operation in Colorado.

"This is a real problem that this committee must deal with and face and can not ignore anymore," he said.

"I do not think there is a single person on this committee who is in a state that does not allow some level of marijuana use." Perlmutter noted, referring to the 46 states that have comprehensive medical cannabis laws or allow limited uses of marijuana extracts low in THC.

However, the Republicans on the committee used procedural moves to block the bank measure even from being voted. [19659002]

Congressman Blaine Luetkemeyer (R-MO) reserved a motion of order against the measure, alleging that it was not related to the general law on evidence of stress for financial institutions. (As a separate comment, the Republican legislator mentioned that his daughter lives in Colorado and that they speak "a lot" about marijuana issues.)

Committee Chairman Jeb Hensarling (R-TX) decided to keep Luetkemeyer's point or order. Perlmutter made a motion to appeal the president's decision, but Luetkemeyer made a motion to consider Perlmutter's move.

Congresswoman Maxine Waters (D-CA) spoke in support of the Perlmutter amendment.

"Someday we will realize this is a federal issue that needs to be addressed," he said.

Congressman David Scott (D-GA) also argued that the panel should address the problem of cannabis banking at some point.

"If … your amendment" is irrelevant, I still believe that this flourishing problem certainly falls within the Financial Services Committee as we move forward, "he said.

But the vote on Luetkemeyer's motion it was approved with a strictly partisan vote of 28 to 14, effectively blocking the measure of cannabis banking to be considered.

This week, I tried once again to offer a solution to the crisis of marijuana banking. , my amendment was not included in the final invoice.This is a public safety issue and I will continue to press the issue at every opportunity.https: //t.co/0xUJB1srDy

– Rep. Ed Perlmutter (@RepPerlmutter) November 18, 2017

The text of the Perlmutter amendment is similar to an independent bill it is sponsoring in the House, which currently has 51 co-sponsors.A complementary version of the Senate has 12 co-sponsors.

In 2014, the Obama administration published a guide designed to give banks some comfort to work with the marijuana industry. But, because the memorandums did not provide permanent or insured protection against current federal prohibition laws, many financial service providers have remained cautious.

Also in 2014, the US House of Representatives UU He voted 231 to 192 in favor of an amendment to prevent federal authorities from punishing banks for working with the legal marijuana industry. But language was not included in the final version of the annual appropriation legislation that year and was not enacted into law. Since then, Republican leaders have prevented the voting of financial measures related to cannabis. The new destination of the banking measure marks the second time in recent days.

Also last week, Republican leaders blocked the consideration of amendments relating to taxes on marijuana companies that supporters wanted to attach a broader tax reform plan to Congress.

Marijuana companies do not see the success of the 280E reform, but there is still hope

Over the past year, congressional leaders have consistently prevented measures on marijuana from reaching the floor of the House. Apart from the banking and tax amendments, the House Rules Committee has closed all proposals to protect state laws against federal interference, allow industrial hemp and increase military veterans' access to medical cannabis.

Also last week, that panel blocked Congressman Matt Gaetz's (R-FL) measure aimed at increasing the participation of military veterans in medical cannabis research.

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