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Marijuana Banking Bill Sponsor Says He’s ‘Gonna Get That Darn Thing Passed’ Before Leaving Office

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Rep. Ed Perlmutter (D-CO) is retiring from Congress at the end of this session, but he says that he’s going to work to pass his marijuana banking bill before his time on Capitol Hill comes to an end.

The congressman spoke to Colorado Public Radio last week about his decision not to run for reelection this November and his disappointment that, while the House has approved the Secure and Fair Enforcement (SAFE) Banking Act five times now in some form, the Senate has failed to advance it under both Republican and Democratic leadership.

“That one still has me pretty irritated,” Perlmutter said, referring to the fact that Senate Majority Leader Chuck Schumer (D-NY) has effectively blocked his bipartisan legislation. When there was a GOP Senate majority, he was told the bill was “too big and too broad.” Then with a Democratic majority, he’s told that it’s “too narrow and too limited.”

Schumer and his colleagues who are working on a federal legalization bill have repeatedly said that they do not want to see the SAFE Banking Act pass before comprehensive reform is enacted that addresses equity issues. Supporters of the banking bill argue that the incremental policy change is necessary for promote public safety and, importantly, it stands a much stronger chance of getting to the president’s desk with bipartisan support.

Nonetheless, Perlmutter said he plans to spend his remaining months in office pushing to get the job done.

“I have not given up on that one,” he said. “I’m gonna get that darn thing passed this year while I still serve out my term.”

Listen to Perlmutter discuss the marijuana banking legislation, starting around 10:24 into the audio below: 

Asked whether he thinks President Joe Biden would be inclined to sign the measure if it did get to his desk, the congressman said “absolutely.”

“Treasury Secretary [Janet] Yellen is somebody who has been talking to me about this for years,” he said. “I feel very good that it would pass. We’re at 47 states that have some level of marijuana use, all the territories and District of Columbia, and they need to have legitimate banking services.”

“It’s just a no brainer in my opinion,” he said. “And yeah, I’m a little bit irritated, but we’re gonna keep working on it and get it passed this year.”

The last attempt that Perlmutter made to enact the reform was by adding its language to a must-pass defense bill, but it was ultimately sidelined following bicameral negotiations and did not make it into the final version. The congressman told Marijuana Moment last month that he sees other potential vehicles to advance the bill and has spoken with House Speaker Nancy Pelosi (D-CA) about it.

Even some Republicans are scratching their heads about how Democrats have so far failed to pass the modest banking reform with majorities in both chambers and control of the White House. For example, Rep. Rand Paul (R-KY) criticized his Democratic colleagues over the issue last month.

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