Leading Democrats from the US Senate are pushing are pushing for a new cannabis deal before nationwide elections in November.
With it looking unlikely that the Democrats can push for sweeping cannabis legislation due to lack of votes, members from the Senate are seeking to find a compromise.
Included in the compromise is allowing the cannabis industry access to financial institutions, including banking services.
This lack of access has long been one of the main difficulties faced by the owners of cannabis based products, either in production or selling of the drug.
CEO’s of marijuana related companies have had their personal bank accounts closed, as has an attorney who worked on marijuana related defence work.
Although there is no concrete plans in place yet for what the legislation might look like those within the Senate are hoping to find bi-partisan support.
Those on the Republican benches could be in favour of such. However, it remains unlikely that the Democrats will be able to include such provisions as providing criminal justice and social equity provisions that they have been pursuing.
Elizabeth Warren and Bernie Sanders are two Senators who want the Biden administration to issue pardons to all individuals convicted of nonviolent cannabis offences. Over 40,000 individuals are currently incarcerated due to cannabis related offences.
There is growing concern that some legislation, even if not as grand as once hoped, needs to be passed as the shape of the Senate could change dramatically once the November elections occur.
Considering the timeline and lack of concrete plans there will need to be considerable cooperation between the two parties in the coming months in order for the Democrats cannabis deal to pass.