WASHINGTON — Today, Congresswoman Susie Lee (D-NV) and Congressman Chris Stewart (R-UT) were named as Vice-Chairs of the bipartisan Colorado River Caucus by Co-Chairs Congressman Joe Neguse (D-CO) and Congressman Juan Ciscomani (R-AZ). The Caucus comprises a bipartisan coalition of lawmakers representing states along the Colorado River Basin, with members from Arizona, California, Colorado, Nevada, New Mexico, and Utah. The lawmakers will discuss the critical issues along the river and support the work of the Colorado River Basin states on how best to address the worsening levels of drought in the Colorado River Basin. “In southern Nevada, we are leading when it comes to water conservation and climate change resiliency, but this crisis is too urgent and wide-reaching to act alone,” said Congresswoman Susie Lee. “As the West continues to face the worst drought in twelve centuries, the future of the Colorado River System depends more than ever on the seven Basin states working together on joint solutions. I’m proud to serve as Vice-Chair of the new, bipartisan Colorado River Caucus alongside Congressman Stewart to demonstrate that we can cross state and party lines to collectively combat our water crisis.” “I’m proud to join this critical, bipartisan caucus that’s so dedicated to the Colorado River Basin,” said Congressman Chris Stewart. “Water is the lifeblood of the American West, and shortages are a problem that impact all of us. It’s no surprise that it will take all of us to create the healthy, sustainable communities that we all want for the West. The Colorado River Basin states are well underway with this collaborative process, and Congress needs to continue supporting those crucial negotiations.” “I am excited that Representatives Lee and Stewart will bring their much-needed perspectives to the Colorado River Caucus through their roles as Vice-Chairs,” said Congressman Joe Neguse. “Together, we will work with the Caucus towards our shared goal of alleviating the water crisis facing the Colorado River Basin in both the Upper and Lower Basin states.” “The Colorado Basin states face a set of unique challenges compared to the rest of the country and it’s crucial that we work together to find common-sense solutions,” said Congressman Juan Ciscomani, co-chair of the caucus. “When the Colorado River System thrives, so does Arizona. I am excited to have Representatives Susie Lee of Nevada and Chris Stewart of Utah join our growing coalition of lawmakers dedicated to uniting the region.” Additional caucus members include Representatives Greg Stanton (D-AZ), Grace Napolitano (D-CA), Jay Obernolte (R-CA), Doug Lamborn (R-CO), Yadira Caraveo (D-CO), Dina Titus (D-NV), Mark Amodei (R-NV), Melanie Stansbury (D-NM), Teresa Leger Fernandez (D-NM), and John Curtis (R-UT). A similar effort is being led in the U.S. Senate by Colorado Senator John Hickenlooper. The Colorado River provides water for over 40 million people in the West, spanning the 7 Colorado River Basin states of Arizona, California, Colorado, Nevada, New Mexico, Utah, and Wyoming. The Western U.S. continues to experiencerecord-breaking drought conditions and water shortages, and Lake Mead and Lake Powell, the country’s two largest reservoirs, are at less than three-fourths of their average level.
Cortez Masto Cosponsors Bipartisan, Bicameral Legislation to Improve Community Safety and Banking Access for Legal Cannabis Businesses
Bipartisan legislation would ensure that legal cannabis businesses can access critical financial services, increase public safety Washington, D.C. – Today, U.S. Senator Cortez Masto joined U.S. Senators Jeff Merkley (D-Ore.) and Steve Daines (R-Mont.), as well as Representatives Dave Joyce (R-Ohio-14) and Earl Blumenauer (D-Ore.-03), in cosponsoring the bipartisan, bicameral Secure and Fair Enforcement (SAFE) Banking Act to ensure that legal cannabis businesses have access to critical banking and financial services. “I’m fighting to ensure that legal cannabis businesses in Nevada can open bank accounts, accept credit cards or write checks to limit security risks and ensure regulatory certainty in the industry,” said Senator Cortez Masto. “Our legislation will support Nevada businesses, boost our economy, and keep our communities safe from money laundering and other crimes.” Most state legal medicinal or recreational cannabis businesses are denied access to traditional and secure banking systems and financial services because banks fear they may be prosecuted under federal law given the ongoing federal restrictions on cannabis. Due to the lack of access to financial services, state legal cannabis businesses are forced to operate their businesses solely using cash, leaving communities vulnerable to criminal activity. To address the safety concerns resulting from these state-legal businesses being shut out of banking services, the SAFE Banking Act would prevent federal banking regulators from: The bipartisan the SAFE Banking Act would also create a safe harbor from criminal prosecution and liability and asset forfeiture for banks and their officers and employees who provide financial services to legitimate, state-sanctioned cannabis businesses, while maintaining banks’ right to choose not to offer those services. The bill also provides protections for hemp and hemp-derived cannabidiol (CBD) related businesses. This bipartisan legislation, for the first time, explicitly extends the safe harbor to Community Development Financial Institutions (CDFI) and Minority Depository Institutions (MDI) to ensure they can also serve cannabis businesses. CDFI and MDI serve underserved communities who face challenges in accessing capital and provide affordable access to financial services. Additionally, it would require banks to comply with current Financial Crimes Enforcement Network (FinCEN) guidance, while at the same time allowing FinCEN guidance to be streamlined over time as states and the federal government adapt to legalized medicinal and recreational cannabis policies. In addition to U.S. Senators Cortez Masto, Merkley, and Daines, this legislation is cosponsored by Senators Jacky Rosen (D-Nev.), Bill Cassidy (R-La.), Kirsten Gillibrand (D-N.Y.), Cynthia Lummis (R-Wyo.), Brian Schatz (D-HI), Lisa Murkowski (R-Ala.), Edward J. Markey (D-Mass.), Kevin Cramer (R-N.D.), Ben Ray Luján (D-N.M.), Dan Sullivan (D-AK), Rand Paul (R-Ky.), Angus King (I-Maine), Tammy Duckworth (D-Ill.), John Fetterman (D-Pa.), Ron Wyden (D-Ore.), Kyrsten Sinema (I-Ariz.), Alex Padilla (D-Calif.), Dick Durbin (D-Ill.), Peter Welch (D-Vt.), Mark Kelly (D-Ariz.), Michael Bennet (D-Colo.), Patty Murray (D-Wash.), Tina Smith (D-Minn.), Amy Klobuchar (D-Minn.), Elizabeth Warren (D-Mass.), Tim Kaine (D-Va.), Debbie Stabenow (D-Mich.), Bernie Sanders (I-Vt.), Bob Menendez (D-N.J.), Chris Coons (D-Del.), John Tester (D-Mont.), Mark Warner (D-Va.), Martin Heinrich (D-N.M.), John Hickenlooper (D-Colo.), Mazie Hirono (D-Hawaii), Gary Peters (D-Mich.), and Chris Murphy (D-Conn.). The bill text can be found HERE. As a member of the Senate Finance Committee and a former Attorney General, Senator Cortez Masto has been a strong advocate for protecting our financial systems and cracking down on financial crimes. She passed into law her bipartisan legislation to combat money laundering and terrorism through financial intelligence by bolstering the Financial Crimes Enforcement Network (FinCEN) to work with tribal law enforcement agencies, protect against domestic terrorism and focus on virtual currencies. She has also introduced legislation to incentivize whistleblowers to report consumer fraud.