A week ago, the marijuana industry was on the precipice of a major victory.
Big Pot spent massive amounts of money and manhours lobbying Congress to grant the industry banking access, but thanks to your help the House Appropriations Committee voted down the Joyce amendment. This amendment would have put pedal to the metal on Wall Street investment into the sales and marketing of pot candies, cookies, and ice creams.
Public health took on Big Pot, and public health won.
The fact is, granting banking access to the marijuana industry would enable money laundering for international drug cartels that are already using the cover of legalization to grow their illegal operations. In Canada, anonymous offshore firms, possibly with connections to organized crime, have already invested heavily into the marijuana industry.
If hedge funds can easily invest in marijuana companies, the industry will metastasize into Big Tobacco within a matter of months. There will be no restrictions to the length of their reach once their billions turn to hundreds of billions and their shops line every street corner of your hometown. This is why we must continue our fight and build on these victories.
Because of the tireless work of SAM Action supporters like you, public health notched a victory in the House, but the fight is not yet settled on this issue.
Tomorrow, the Senate Appropriations committee will meet and debate the Merkley amendment, which is almost identical to the Joyce amendment. They are considering banking access, yet again.
It is urgent that you take action NOW.
Our Government Affairs team is working around the clock with our allies and volunteers such as yourself to shut this amendment down.