Austin Smith
Posted by Austin Smith on Feb 9, 2019 9:00:00 AM

First Congress Cannabis Hearing of 2019 Scheduled by Democratic Majority House

 

katie-moum-623907-unsplashCannabis-related measures which were brought to the floor of the House have historically been blocked with votes from the Republican House Majority.

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Now, with a Democratic majority in the House, a scheduled date for a cannabis hearing has been made official.

The hearing, which is set for February 13th, will address possible broad changes to the current federal laws that pertain to cannabis. Titled “Challenges and Solutions: Access to Banking Services for Cannabis-Related Businesses,” the hearing will aim to dissolve issues that cannabis businesses face with banking. Many cannabis businesses face difficulties with a conflict between state laws that allow for all aspects of the cannabis market and federal laws that govern bank accounts in those states.

Longtime advocate for cannabis banking legislation, Congressman Denny Heck, said: "We have a bipartisan proposal to allow well-regulated marijuana businesses to handle their money in a way that is safe and effective for law enforcement to track. I am eager to get to the work of refining it and passing it into law."

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This is one of the earliest signs that Democrats may have cannabis legalization on the forefront of their agendas for 2019.

Curious about how you can make money investing in cannabis? Sign up for Cannin Free Access and subscribe to the Cannin Chronicle. We'll keep you informed on all things cannabis and even help you determine which cannabis companies have the highest growth potential.

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Tags: Politics

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