The fiscal 2023 defense reauthorization bill text released Tuesday excluded cannabis banking provisions after lawmakers were unable to reach a compromise that would satisfy progressive Democrats or overcome objections from prominent Republicans.
Democrats earlier in the day cast blame on Republicans for standing in the way of provisions that would allow the cannabis industry to access banking services. But a group of Senate Democrats Tuesday afternoon was still pushing to attach stipulations that would support those harmed by federal drug laws to any language that would open banking services up to the industry.
“I think McConnell’s been pretty much an obstacle on getting it in,” Rep. Ed Perlmutter, D-Colo., said in an interview, referring to Senate Minority Leader Mitch McConnell, R-Ky. Perlmutter, a long-time supporter of banking access for cannabis companies, introduced the banking bill under consideration for inclusion in the defense reauthorization legislation.
