Legislation that would allow cannabis companies access to banking services in states where weed is legal was approved today by the U.S. House of Representatives.
New Jersey’s House delegation approved the bill along party lines, with only Rep. Christopher Smith (R-Hamilton), the lone Republican congressman from New Jersey, voting against the measure.
“This is a historic day for the country. The House has wisely chosen to make the process of starting and maintaining a cannabis business easier, in turn providing a boost for medical cannabis and legalization efforts,” said Scott Rudder, a former Republican assemblyman who is now the president of the New Jersey CannaBusiness Association. “This is not only smart policy but will help create jobs and economic development.”