Three of Oklahoma’s five U.S. Representatives voted for H.R. 1595, the SAFE Banking Act. The measure would allow banks to do business with cannabis related businesses in the states which have legalized marijuana in some form. It passed the House on Wednesday by a vote of 321 to 103.
Congressmen Markwayne Mullin and Frank Lucas voted against the measure.
Congressmen Tom Cole, Kevin Hern and Congresswoman Kendra Horn voted for it.
Horn, who is a co-sponsor of the bill, released a statement after the SAFE Banking Act passed.
“This bipartisan bill is a right-sized solution that is good for business and public safety,” said Horn. “The conflict between state and federal laws prevents Oklahoma cannabis-related businesses from using banks to deposit their revenue, pay their bills, and finance capital improvement projects, and makes it challenging to file their taxes. It has also created a serious safety hazard for businesses by forcing them to hold large amounts of cash on their premises, and it increases the likelihood of tax evasion.”
This is the first federal marijuana policy bill to make it out of the House of Representatives this year. However, it’s future in the U.S. Senate is unclear.
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 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.
