Work in the House has ground to a halt as Republicans search for a new speaker, threatening to delay consequential business tax break legislation. Legislation that would offer federal protections to banks that provide financial services to cannabis businesses, closely watched by Wall Street, could be another casualty.
The marijuana business measure has been promoted as improving safety for cannabis-based businesses that currently rely on cash because of federal prohibitions on banking with cannabis firms.
Then-Majority Leader Kevin McCarthy (R-Calif.) joined a slim majority of House Republicans in supporting an earlier version in 2021 (
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