U.S. House votes to allow Marijuana Stores to deposit cash to banks
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July 17, 2014U.S. House votes to allow banks to accept deposits from marijuana stores and dispensaries
Historic Vote Falls on Heels of Votes in May to Prohibit DEA from Undermining State Medical
In a historic vote today the U.S. House passed a bipartisan amendment by Representatives Heck (D-WA), Perlmutter (D-CO), Lee (D-CA) and Rohrabacher (R-CA) preventing the Treasury Department from spending any funding to penalize financial institutions that provide services to marijuana businesses that are legal under state law. The amendment passed 231 to 192.
In May, the House passed an amendment prohibiting the Drug Enforcement Administration (DEA) from undermining state medical marijuana laws and passed two amendments prohibiting the DEA from interfering with state hemp laws.
The Pew Research Center found in a recent survey that nearly three-in-four Americans (72 percent) believe that enforcing marijuana laws cost more than it is worth. The break down was: 78 percent of Independents, 71 percent of Democrats and 67 percent of Republicans. There is strong support for state medical marijuana programs, with 80 percent of Democrats, 76 percent of Independents, and 61 percent of Republicans supporting the sale and use of medical marijuana in their state. A majority of Americans support taxing and regulating marijuana like alcohol.
Twenty-three states and the District of Columbia have laws that legalize and regulate marijuana for medicinal purposes. Eleven states have laws on the books or about to be signed into law by their governors regulating CBD oils, a non-psychotropic component of medical marijuana which some parents are utilizing to treat their children’s seizures. Two states have legalized marijuana like alcohol – Colorado and Washington State. Alaska and Oregon voters will vote on legalizing marijuana in November.
