Delegation on Pot: Horn Becomes Co-Sponsor of SAFE Banking Act

Congresswoman Kendra Horn is putting her support behind the SAFE Banking Act. H.R. 1595 clears a path for banks to work with cannabis related businesses in states which have legalized marijuana in some form. It is currently going through the committee process and was marked-up by the House Financial Services Committee. The legislation is awaiting a hearing in the House Judiciary Committee.

Horn added her name to the growing list of Democrat and Republican House members co-sponsoring the SAFE Banking Act.

“Most states have legalized medical marijuana, yet federal law prevents banks from working with cannabis-related businesses. Keeping our banks out of this industry endangers public safety and stifles local business. I am a co-sponsor of the bipartisan SAFE Banking Act because it respects states’ rights and provides clarity for the banking industry,” Horn tells The McCarville Report.

Horn indicates Congress needs to address federal cannabis policy.

“The SAFE Banking Act is a commonsense first step. However, it doesn’t fully address issues surrounding marijuana policy, such as medical research, substance abuse and criminal justice. Marijuana’s Schedule I status is needlessly blocking critical research. Better research means better oversight,” Horn said.

Editor’s Note: Delegation on Pot is The McCarville Report’s series of stories on the stances held by the Oklahoma Congressional Delegation concerning marijuana policy. Because Oklahoma is one of the latest in a majority of states to legalize cannabis in some form, interest is beginning to turn to federal policy. More than two dozen pieces of legislation have been filed in Congress this year. Our Senators and Representatives will likely come across these bills in committee and on floor debate and votes.