Marijuana reform advocates scored two victories on Tuesday after a key congressional committee approved a spending bill that included a cannabis banking provision and excluded another rider that previously impeded legalization in the nation’s capital. The moves came in spite of impassioned objections from a handful of Republican lawmakers.
For the first time ever, the House Appropriations Committee passed spending legislation that would provide protections for banks that service marijuana businesses. And a longstanding provision prohibiting Washington, D.C. from using its own local tax dollars to implement a legal cannabis sales system was not included in the bill.
The banking provision states that no funds distributed through the legislation “may be used to penalize a financial institution solely because the institution provides financial services to an entity that is a manufacturer, a producer, or a person that participates in any business or organized activity that involves handling marijuana,