How does that work? What will this mean for you or someone you love if you live in upstate New York? Today we break this down
New York, Virginia, and New Mexico all passed legislation in 2021 legalizing marijuana,1 bringing the total number of states where recreational consumption is legal up to 17, along with Washington, D.C. At the federal level, the House of Representatives passed a bill this week which allows banks to conduct business with cannabis-related companies in states where marijuana has been legalized, with the support of about half of the chamber’s Republicans and almost all of its Democrats; the bill now awaits its fate in the Senate.2 Before it was passed, Senate Majority Leader Chuck Schumer told Politico he wants to tackle the House bill but wants to “figure out the right way to do that.” He has been working on comprehensive legislation to end the federal ban on the drug independent of President Biden, who has indicated that he may not be on board.
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