September 30, 2019
Fast Facts
Bringing Business Up to Speed
Federal Issues

Congress moves toward allowing marijuana businesses to access banking products

With wide bipartisan support, the U.S. House of Representatives has passed a bill that helps state-regulated marijuana businesses access banking products without fear of reprisals from the federal government.

The SAFE Banking Act passed the House 321-103, with 91 Republicans voting in favor. Among those voting in favor was U.S. Rep. Cathy McMorris Rodgers, R-WA, who said, “I heard from a lot of banks and credit unions about the increased amount of cash that is on our streets, and the danger that it poses for our community.

Many said they supported the bill because of its narrow scope aimed at keeping marijuana businesses from needing to rely solely on cash. As of now, many financial institutions are avoiding working with cannabis businesses, even in states that have legalized it, since the drug is still illegal under federal law.

The bill now heads to the Senate, where its fate is uncertain.

Contact Amy Anderson, AWB government affairs director for federal issues, to learn more.

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Freeways Aren't Free

The Times recommends: Reject car tabs Initiative 976 and its devastating effects

By The Seattle Times Editorial Board

In his latest ballot measure, initiative promoter Tim Eyman is overreaching again. He conjures a fantasy world in which Washington's transportation infrastructure is complete, efficient and everlasting.

The real-life Initiative 976 is a direct threat to Washington's well-being. It would cut repairs to streets and bridges of 62 districts across the state, delay voter-approved mass transit in mid-construction and cost taxpayers more money in the long run. The statewide transportation budget, including highway construction and the State Patrol, would be shorted $4 billion over the next decade.

Little wonder large employers including Amazon, Alaska Airlines and Microsoft, business groups, city and county officials, unions and environmental concerns oppose I-976...

Nothing about I-976 is a good idea, in terms of responsible governance or prudent money management. Eyman asks voters to buy a falsity that there's some miraculous way to fund our state's backlog of bridge, road and transit needs. Because the courts cannot end this toxic nonsense quickly enough, voters must reject I-976 themselves.

Read the full editorial in The Seattle Times