Update: Federal and State Government Marijuana Policy

Update: Federal and State Government Marijuana Policy

Update: Federal and State Government Marijuana Policy

House Republicans blocked an effort to open up banking for Marijuana businesses

House Turns Back Effort to Give Pot Businesses Access to Banks. The Republican-led House Wednesday voted down an amendment to the FY 2017 Financial Services and General Government Appropriations Act that would have blocked federal regulators from punishing financial institutions for working with state-legal marijuana businesses. A similar amendment had passed the Senate last week.

Nevada Legalization Effort Has Raised Nearly $300,000 This Year. The Nevada Coalition to Regulate Marijuana Like Alcohol has raised $285,000 so far this year, with more than 50% coming in a 2-day period earlier this month when local marijuana companies made significant donations. The campaign’s legalization initiative has qualified for the November ballot. Opposition groups made no reports of donations this reporting period.

Oregon Takes in Nearly $15 Million in Pot Taxes So Far This Year. As of May 30, the state Department of Revenue had processed $14.9-M in marijuana tax payments this year, the agency said Wednesday. Medical marijuana dispensaries authorized to sell to any adult 21 or over began collecting the tax in January.

New York Governor Signs Heroin Bill Package. Gov. Andrew Cuomo (D) Wednesday signed into law a package of bills aimed at the state’s heroin and prescription opioid problems. The bills, which address prevention, treatment, and insurance coverage, should produce an additional 270 treatment beds and more than 2,000 slots for drug treatment programs. The bills also require insurance companies to wait 14 days before denying coverage to drug users deemed in need of drug treatment, and it limits initial prescriptions for opioids for severe pain to seven days.

Stay tuned…

The following two tabs change content below.

Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

You must be logged in to post comments :