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  • Banking for marijuana companies included in Congress’ new $3 trillion coronavirus stimulus bill
    Posted in In the News on May 12, 2020 | Preview rr
    Tags: Jobs & the Economy

    Cannabis industry advocates applauded House Democrats on Tuesday after a new $3 trillion federal stimulus bill included provisions to allow marijuana businesses access to banking. Introduced by House speaker Nancy Pelosi, the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act includes wide-ranging goals to address the effects of the coronavirus pandemic, from offering financial assistance to state and local governments to forgiving student loan debt. Wrapped into the massive, ... Read more

  • Eight surprises in House Democrats' $3T coronavirus relief bill
    Posted in In the News on May 12, 2020 | Preview rr
    Tags: Jobs & the Economy, Healthcare

    House Democrats on Tuesday released their latest proposal for coronavirus relief — a massive package designed largely to press reluctant GOP leaders in the Senate and White House to get moving on another infusion of emergency aid. Much of the enormous proposal was expected, providing hundreds of billions of dollars for medical workers, states, small businesses and those left jobless as a result of the expansive economic lockdown sparked by the deadly pandemic. Yet in choosing to craft the bill w... Read more

  • State Budget Shortfall Tops $3 Billion, Severe Cuts Planned
    Posted in In the News on May 12, 2020 | Preview rr
    Tags: Jobs & the Economy

    In just two months, the COVID19 crisis has caused the state’s general fund budget to go from a $27 million surplus to an $893 million deficit. “What has transpired over last two months unimaginable,” the legislature’s chief economist told budget writers. Currently, 95 percent of the budget comes from sales and income tax. That revenue has plummeted with businesses closed and 15 percent of the state’s workforce out of work. “Every service that state government offers will be affected,” said Senat... Read more

  • 50,000 Emails In 50 Days: Colorado Congressional Delegation Sees Growing Political Engagement
    Posted in In the News on May 11, 2020 | Preview rr
    Tags: Jobs & the Economy, Healthcare

    It hardly feels like campaign season with no rallies and debates. While most of the country has slowed down, Coloradans are more politically engaged than ever. Congresswoman Diana DeGette, who’s served for more than 20 years, says she’s never seen so many emails, letters and calls. “It has been overwhelming.” She says before COVID-19, her town halls averaged 250 people. Now, her telephone town halls draw 8,000. “Everybody worried about something. Small businesses are worried about staying in bu... Read more

  • Opinion: Prepare to face the economic calamity still ahead of us
    Posted in In the News on May 10, 2020 | Preview rr
    Tags: Jobs & the Economy, Healthcare

    We’re in this together.” A phrase we’ve heard and repeated often since the COVID-19 crisis began. And it is certainly true — we are in this together, and will get through this as a community, state, and country — together. Unfortunately, Senate Majority Leader Mitch McConnell does not share our view. According to him, that’s not the case when it comes to aid for teachers, law enforcement, firefighters and other public employees supported by state and local governments. Instead, McConnell favors ... Read more

  • Marijuana Groups Ask Congress To Include Banking Access In Next Coronavirus Bill
    Posted in In the News on May 8, 2020 | Preview rr
    Tags: Jobs & the Economy

    A coalition of marijuana advocacy groups sent a letter to House leadership on Friday, asking that they incorporate language allowing the cannabis industry to access banking services in upcoming coronavirus relief legislation. Because financial institutions fear being penalized by federal regulators if they work with state-legal marijuana businesses, these companies are often forced to deal on a largely cash basis. That has long put them at risk of being targets of crime—but the groups said durin... Read more

  • Pot Industry Wants Banking Provisions in COVID-19 Relief Bills
    Posted in In the News on May 8, 2020 | Preview rr
    Tags: Jobs & the Economy

    Several marijuana organizations have sent a letter to congressional leaders urging that Safe Banking Act language be included in any future economic relief packages. Because of marijuana's federal prohibition, the vast majority of business and customer transactions involving licensed pot businesses are cash-only. The Safe Banking Act, a bill proposed by U.S. Representative Ed Perlmutter that would create federal protection for banks and financial institutions that serve state-legal marijuana bus... Read more

  • Should marijuana shops be eligible for federal relief aid?
    Posted in In the News on May 5, 2020 | Preview rr
    Tags: Jobs & the Economy

    The federal government classifies cannabis as a Schedule 1 controlled substance, right up there with LSD, heroin and ecstasy. Yet, many state governments have legalized the drug for medical and recreational uses. The industry is made up of thousands of dispensaries and cultivations that operate like small businesses, employing hundreds of thousands of workers across the country and contributing to local and state sales taxes. Which begs the question: Should the cannabis industry be eligible for ... Read more

  • NEW BILL WOULD PROVIDE U.S. POT INDUSTRY CORONAVIRUS RELIEF
    Posted in In the News on May 1, 2020 | Preview rr
    Tags: Jobs & the Economy

    The end of April saw a new bill introduced in Congress that would give state-legal cannabis businesses access to the Small Businesses Administration’s COVID-19 relief programs. Reps. Earl Blumenauer of Oregon and Ed Perlmutter of Colorado introduced the Emergency Cannabis Small Business Health and Safety Act. Blumenauer also serves as co-chair of the Congressional Cannabis Caucus, alongside Oakland’s Barbara Lee. At the moment, pot businesses don’t have access to a variety of services thanks to ... Read more

  • With crisis, cannabis -rms see a shot to get banking relief
    Posted in In the News on May 1, 2020 | Preview rr
    Tags: Jobs & the Economy

    The SAFE Banking Act, which passed the House last year but stalled in the Senate, could get tacked on to a future stimulus bill. Cannabis companies already caught a break during the coronavirus pandemic by winning "essential business" status. Now they're looking for an even bigger prize, one that has eluded them for several years: passage of the SAFE Banking Act as part of the next big federal stimulus package. If they succeed, it would allow them access to banking services, reducing costs and h... Read more

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