The SAFER Banking Act Just Passed! Or Did It…
Not So Fast! The SAFER Banking Act Just Passed the Senate, But It’s Not a Law Yet
You probably heard that the SAFE Banking Act passed.
Well, it sort of did—but it’s not a law yet. Here’s why…
The SAFE Banking Act passed the Senate committee it was assigned to.
Basically, what happens is a Senator or Representative will follow this legislative process:
They co-sponsor a bill.
Bill gets introduced.
Bill is assigned to a committee.
After researching it, the committee decides on any changes (amendments).
Committee votes on whether the bill dies, or stays alive, and advances to the next step.
Bill goes to the Senate chamber floor for a vote.
Next, the House will be voting. 😬
Finally, the bill is returned to the President’s desk to be signed into a law.
Now, the SAFE Banking Act, which we now know as the SAFER Banking Act (basically the same act with some amendments made) passed the House SEVEN times!
And then, as soon as it got to the Senate, it was dead on arrival.
But the SAFE Banking Act has actually managed to pass the Senate this time! 🥳
Actually, the reason why it passed the House seven times is because it was Democratic controlled. And the Senate is now—you guessed it—Democratic controlled.
(I’m just reporting the facts, let’s not get into the blue versus red gangbanging.)
With all of this excitement we must keep in mind that even though this is a bipartisan bill, we still have to see what the House is going to do.
It might be dead on arrival, depending on how the House votes.
Fingers crossed that is passes 🤞 Because this act will FINALLY allow cannabusinesses and their employees to bank in states where weed is legal!
Bless the blunt
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