Tag Archives: Rep. Ed Perlmutter

House Republicans Block Marijuana Banking Amendment

House Republicans Block Marijuana Banking Amendment

House Republicans Block Marijuana Banking Amendment

On June 21, 2016, the House Committee on Rules blocked an amendment to H.R. 5485, the Fiscal Year 2017 Financial Services and General Government Appropriations Act, that would have prohibited regulators from penalizing financial institutions that provide services to state-legal marijuana businesses.

Dispensary open. Sonya Yruel/Drug Policy Alliance.

House of Representatives Votes to Open Banking for Cannabis Businesses

WASHINGTON, DC – The House of Representatives cast two votes today in support of opening up banking services to state-legal marijuana businesses. By a vote of 231-192, the House passed an amendment to the Financial Services appropriations bill, forbidding the use of federal funds to penalize financial institutions that serve marijuana businesses operating legally under state law.

Tax Wrench

Tax Burden for Canna-businesses

The IRS problems faced by marijuana businesses can really only be solved one way: by changing the classification of marijuana as a Schedule I drug under federal law. Doing so will unbind the hands of the IRS to relax their penalties, and it may make it easier for businesses to work with banks.


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