Why Marijuana Banking Reform Is In The New Coronavirus Stimulus Bill

The video discusses the inclusion of cannabis banking reform in the stimulus package, specifically the Safe Banking Act, which aims to allow state-legal cannabis businesses access to banking services. Currently, these businesses face challenges due to federal restrictions, operating on a cash-only basis, which poses health risks during the COVID-19 pandemic. The Act has passed the House but faces opposition in the Senate. Its future depends on House negotiations and bipartisan support.

Why do supporters of the Safe Banking Act argue that it is essential for marijuana businesses?

What challenges does the Safe Banking Act face in the Senate according to the text?