California Marijuana

As 2023 began, cannabis advocates on Capitol Hill and the industry at large were steeped in frustration and disappointment. In December, despite broad bipartisan support, Senate Republicans abruptly stripped the Secure and Fair Enforcement (SAFE) Act from must-pass spending legislation, crushing the industry’s expectation that critical banking services at last were within reach. As lawmakers departed for the winter holiday, legal business owners—many of whom are forced to do business in cash—contemplated another year of spiraling operating costs and workplace vulnerability. Nevertheless, hope for reform remains, though it is somewhat dimmer than it was at this time last year. When the predicted “red wave” failed to materialize during the 2022 midterm election, Democrat Chuck Schumer of New York, one of the industry’s primary advocates in Congress, maintained control of the Senate instead of passing the chamber back to Kentucky Republican Mitch McConnell. Currently serving as minority...