The Hill reports:
Marijuana advocates and executives are up in arms after opposition from Senate GOP Leader Mitch McConnell (R-Ky.) resulted in Congress failing to pass a key cannabis banking bill, dealing a massive blow to the industry.
The $1.7 trillion omnibus spending bill unveiled Tuesday includes all kinds of expenditures, but it does not include the SAFE Banking Act, a bipartisan measure that would undo federal restrictions that make it difficult for legal cannabis businesses to access financial services.
It passed the House seven times — receiving a whopping 321 votes last year — and had enough GOP support to reach 60 votes in the Senate. But it did not have the support of McConnell, whose opposition kept it out of the spending bill.
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Not only will Congress fail to legalize marijuana this year, lawmakers failed to advance a modest measure allowing cannabis businesses access to banking due to GOP objections https://t.co/jglxCGFAS5
— Igor Bobic (@igorbobic) December 20, 2022