Republican House and Senate leadership have reportedly blocked Senate Majority Leader Chuck Schumer’s (D-NY) attempt to include bipartisan marijuana banking legislation in a government funding bill, according to a Senate source familiar with the negotiations.
As lawmakers worked to finalize a continuing resolution to keep the government funded, Schumer repeatedly advocated for the inclusion of the Secure and Fair Enforcement Regulation (SAFER) Banking Act. However, Senate Minority Leader Mitch McConnell (R-KY) and House Speaker Mike Johnson (R-LA) firmly rejected the proposal, effectively killing the effort, the source told Marijuana Moment.
“Schumer pushed for SAFER Banking at the negotiation table in the CR multiple times. This week, both Speaker Johnson and Leader McConnell strongly rejected it,” the source said. “For years some Republicans have done a dance telling marijuana businesses that they supported SAFER, while Republican leadership has openly and solely blocked it at every turn.”
Neither McConnell’s nor Johnson’s offices provided immediate comment when approached for clarification.
Schumer has repeatedly expressed his commitment to advancing the SAFER Banking Act, even suggesting that the must-pass stopgap funding legislation could serve as a vehicle for its passage. However, with Republican leadership unwilling to support the measure, its future remains uncertain. While Schumer could theoretically bring the SAFER Banking Act to the Senate floor as a standalone bill, its chances of success appear slim given the steep 60-vote threshold required to overcome a filibuster and the low likelihood of House consideration under Speaker Johnson.
Sen. Steve Daines (R-MT), the GOP lead sponsor of the SAFER Banking Act, has voiced his desire to see the legislation passed by the end of the year. However, Republican opposition within Congress, as well as concerns over whether the measure goes far enough, continue to pose significant obstacles. Sen. Thom Tillis (R-NC), for instance, dismissed the bill as a “half-assed” measure, arguing instead for comprehensive federal marijuana regulation.
The urgency of marijuana banking reform has grown amid shifting political dynamics. With Republicans poised to take greater control of Congress following recent elections, prospects for the SAFER Banking Act under the next session appear even more uncertain, casting doubt on its pathway to enactment.
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