'... our failure to act now will especially hurt burgeoning businesses like those in my home state of New Jersey,' said Sen. Cory Booker.
“In failing to enact the SAFE Banking Act, the Senate missed an opportunity to pass one of the rare pieces of legislation that has the support of both Republicans and Democrats, along with the majority of the American people,” said Khadijah Tribble, chief executive of the U.S. Cannabis Council.
“Not only did the Senate squander a chance to score a bipartisan victory this year, its inaction threatens public safety and undermines the progress states are making in mending the racial inequities of the war on drugs.” Without access to credit cards and checking accounts, legal cannabis businesses were forced to deal primarily in cash, making them inviting targets for robberies and burglaries, proponents of SAFE Banking said.
“Until congressional action is taken, state-licensed marijuana businesses, the hundreds of thousands of people they employ, and the millions of Americans that patronize them will continue to be at a higher risk of robbery due to the cash-heavy nature of this industry created by outdated federal laws,” said Erik Altieri, executive director of NORML, the National Organization for the Reform of Marijuana Laws.to set up shop and compete with large, well-financed enterprises.
“Oh well, more work ahead,” said Michael Correia, the top lobbyist for the National Cannabis Industry Association.
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