DAINES' SAFER BANKING ACT IS HEADED TO THE FLOOR

Press Release

"Thank you, Chairman Brown, for convening the markup on this important legislation.

Thank you to Ranking Member Scott and his team for facilitating this process even though we may disagree on some of the policies.

I want to start by saying that I am opposed to the legalization or decriminalization of marijuana.

The SAFER Banking Act is not about that at all and is not a step in that direction.

This bill is about public safety first and foremost.

The current all cash model of legal cannabis businesses makes them targets for theft, tax evasion and organized crime.

The key to addressing this risk is by ensuring that all legal businesses have access to the banking system.

Additionally, this bill tackles much-needed reforms with respect to financial account closures.

The illegal "Operation Chokepoint' initiative by the Obama Administration targeted politically disfavored groups and attempted to drive them out of the banking system.

This legislation takes an important step forward in ensuring regulators never again have an opportunity to target any legal business, including gun manufacturers and distributors or energy companies because of political differences.

The full Senate and House will have an opportunity to make their own mark on this legislation and strengthen it as they see fit.

That is regular order and I look forward to working with every member to strengthen this bill and get it to the President's desk and signed into law.

Thank you."

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