MJBizMag October 2020 - 56

Marijuana on the Ballot
KY
AL
IA
TX
NC
MN
CO
AZ
ME
SC
GIANTS
of the Senate?
Of the 35 seats up for grabs in the U.S. Senate, several would be key wins
for those in the marijuana industry By Omar Sacirbey
T
he business outlook for cannabis
companies could be significantly
different this time next year,
depending in large part on which party
controls the Senate and which senators
are elected.
Observers say a critical component
to getting cannabis banking reform,
eliminating Section 280E of the federal
tax code, and rolling back federal
prohibition of marijuana, among other
things, is a Democrat-controlled Senate.
It's not just important to have a
majority that favors reform, observers
say, but to have reform-friendly senators
as committee heads who can help
advance marijuana-friendly bills to the
floor for final votes.
This was made painfully clear last year,
when cannabis banking reform passed
the U.S. House of Representatives with
bipartisan support but stalled in the
Senate banking committee under the
command of Idaho Republican Jim Crapo.
Going into November, Republicans
have a 53-47 advantage in the Senate.
There are 35 Senate races this year,
including 15 that are considered
competitive and could result in flips.
A new Senate could potentially pass
56 Marijuana Business Magazine | October 2020
legislation that would save marijuana
businesses millions of dollars, depending
on the size of the operations.
Here are snapshots of the most
important Senate matchups, beginning
with five key races that could change the
makeup of the all-important banking
committee. Incumbents are listed first.
ALABAMA
U.S. Sen.
Doug Jones
(Democrat)
versus Tommy
Tuberville (Republican)
GA

MJBizMag October 2020

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