Congress procrastinated on critical legislation for much of the year. Now only a few weeks remain until a new, divided Congress likely brings partisan gridlock. Washington's delegation should prioritize three items before it's too late: allow the cannabis industry to use banks, empower the local free press and make the expanded child tax credit permanent.
Each of these is not just sound policy but also a chance to end the year on a bipartisan high note.
Help a fledgling industry: Banking for cannabis businesses
Washington led the nation in legalizing marijuana. Now it's among dozens of states where people can buy recreational or medical cannabis products. Despite the drug's entering the mainstream, it remains a pariah in the banking world under federal law. That's created danger for shops and the industry as a whole.
Because cannabis remains illegal under federal law, banks won't take the industry's money. The cannabis industry therefore relies on cash, which makes it an attractive target for criminals. Robberies and violence are common. There have even been murders.
The SAFE Banking Act would allow cannabis businesses to accept credit cards and put money in banks, just like any other business. That would be far safer and less prone to criminal attention.
The act has passed the House multiple times with support from both Democrats and Republicans.
One of the biggest hurdles has been Sen. Cory Booker, D-N.J., who wants to go much further and provide support to minority-owned cannabis businesses. That's all well and good, but his failure to muster enough votes for a grand bill shouldn't prevent action on a narrowly tailored law to help a growing industry, reduce crime and even save lives
Help democracy: Save the free press
It's no secret that local news organizations are struggling these days, and a lot of that struggle is the result of exploitation by large internet companies like Meta (Facebook) and Google. Journalists do the hard work generating news, but they don't get a fair share of online advertising revenue.
The Journalism Competition and Preservation Act would level the playing field by allowing newspapers and other news organizations to band together to negotiate a better slice of online advertising revenue. Right now, each news organization must negotiate individually and therefore lacks leverage. Together, they could force Google and Facebook to be reasonable and share the wealth.
If that happens, local news will be better able to continue its essential democratic role by ensuring that the public knows what is happening and has the information it needs to cast informed votes at the ballot box.
The Journalism Competition and Preservation Act has bipartisan co-sponsors. Congress should pass it before another newspaper closes for good. Save the free press.
Help families: Child tax credits
Perhaps the most powerful thing that Congress did during the early days of the pandemic was expanding the child tax credit. The credit reached more families more quickly, and it was a life saver during a time of extreme economic turmoil.
The numbers don't lie. In just one year, the refundable tax credit helped slash America's childhood poverty rate almost in half. In Washington, nearly 800,000 families received up to $300 per month per child. That represented nearly 1.4 million kids. Children from historically underserved communities of color particularly benefited.
Then the expansion expired. Congress had approved it as a temporary pandemic measure. Predictably childhood poverty rates started ticking back up, exacerbated by high inflation.
When something works so well, make it permanent. Millions of children didn't go hungry and had the basics they needed to attend school and live a normal life. Give them that opportunity again with a permanent expansion of the child tax credit.
Time is short, with the House shifting into Republican control in the next Congress. Act now.
