The highest US Senator downplays hopes for fast motion on the marijuana financial institution invoice

The head of the US Senate Banking Committee tossed cold water in hopes of swift action in the upper chamber over a major marijuana banking reform bill passed by the US House of Representatives in a bipartisan vote this week.

Senator Sherrod Brown, a Democrat from Ohio, told reporters on Wednesday that he was interested in the legislation – known as the SAFE Banking Act – but he does not yet endorse it “because I think we need to look at a number of things” , Cleveland. com reports.

Brown said he tabled the bill with Chuck Schumer, the Senate Democratic leader, “and will see where it leads.”

“This committee has been too preoccupied with Wall Street and not enough housing, not enough rural and urban affairs and people’s economic lives, and that is my focus,” Brown said, according to Cleveland.com. “I’m going to take a look at this seriously. We are not ready to go on. “

The SAFE Act would allow banks and other financial institutions to service state-legal marijuana businesses without fear of federal punishment.

The House passed the bill on Monday with 321-101 votes. It was the first major marijuana law passed by the new democratically controlled Congress.

More than half of the Republicans who voted supported the bill. All Democrats who voted approved the measure.

The prospects for the passage of the Senate are seen as better than in previous years after the Democrats gained control of the upper chamber in the recent elections.

But Brown’s comments underscore that the passage of the law is not guaranteed.

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