In a 21-10 vote, the U.S. Senate Appropriations Committee shot down an amendment that would have lent support to the cannabis industry’s need for banking resources. This latest move comes just a week after the committee approved protections for the medical marijuana industry that shielded businesses from U.S. Department of Justice prosecution.
This amendment, part of a broader budget bill, would have protected financial institutions that opened accounts with licensed marijuana businesses.
"The Senate Appropriations Committee chose to bury its head in the sand rather than make it easier for licensed and regulated marijuana businesses to operate safely, transparently, or effectively," Justin Strekal, political director for NORML, told Forbes. "It's absurd."
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