House passes marijuana banking measure for sixth time

The House on Friday passed marijuana banking legislation for the sixth time, sending it to the Senate, where its fate remains uncertain.

This time, the marijuana provision was attached to the America COMPETES Act, comprehensive legislation that attempts to strengthen the competitiveness of American business and to counter Chinese anti-competitive actions.

That bill is considered a high priority for congressional Democrats. Rep. Ed Perlmutter, D-Colo., convinced congressional leaders to attach his amendment to the bill. Perlmutter has been attempting to attach the banking provisions to high-priority legislation. Last year, the House passed marijuana banking legislation as part of the annual defense authorization legislation, but it was dropped during conference negotiations on the defense measure.

The Senate already has passed its competitiveness bill, so a House-Senate conference committee will attempt to hammer out a compromise measure. The Senate bill does not include the cannabis provision.


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