Roy Blunt changes his stance on the SAFE Banking Act
A few months ago, a bill was passed in the House in an effort to protect all the legally operating cannabis businesses across the US. The Secure and Fair Enforcement (SAFE) Banking Act will give banks and financial institutions the ability to work with the cannabis industry without fear of being targeted by federal law enforcement and, interestingly, the senator who has spoken louder against cannabis legislation, Senator Roy Blunt, has now spoken about how he hopes this bill advances to the President’s desk. This declaration is a real surprise, as Blunt has been declining to cosponsor this legislation ever since it started.
His reasons are, however, not exactly positive. He is no fan of cannabis or its legislation and he told KOLR 10 that it now seems reasonable to support this bill since the alternative to it is even more dangerous. The fact that cannabis companies can only operate with cash ends up creating a larger public safety risk. “You’re just asking for more problems, in an industry frankly that I think really drifts toward problems anyway, but if you make it all cash, you’ve highly increased the bad things that can happen,” said Blunt. The bill is now pending action in the Senate Banking Committee.
The SAFE Banking Act was passed back in September, and it received significant support from the Republicans as well. Some members from both parties show concern whether this support can be maintained the same but anyway only five of the total 33 cosponsors for this bill are Republicans. Blunt is not part of that list.