Cannabis Ally Colorado Rep. Perlmutter Announces Retirement

Colorado Rep. Ed Perlmutter (D), a staunch supporter of cannabis legalization in Congress, announced Monday that he would not seek reelection. Perlmutter is the author of the SAFE Banking Act and sponsor of several other cannabis reform bills introduced in the House of Representatives during his tenure.

“There comes a time when you pass the torch to the next generation of leaders. I’m deeply gratified that our bench in the 7th District is deep and fortunately we have a strong group of leaders who are ready and able to take up that torch.” — Perlmutter in a statement

Perlmutter was first elected to represent the Centennial State’s 7th district in 2006 and is currently serving his eighth term. His district was redrawn in 2012 and again this year.

Perlmutter is the 26th House Democrat to announce retirement from the chamber.

Perlmutter’s SAFE Banking Act — which would give cannabis companies access to traditional financial services as it remains federally outlawed — has been approved five times by the House since its introduction but has never received a vote in the Senate.

In the statement posted to Twitter, Perlmutter said he was proud of “elevating the public safety risk of the cash-only cannabis industry” in Colorado and “across the country.”

In a tweet, the National Cannabis Industry Association responded to the announcement: “Thank you for everything, Congressman.”

The SAFE Banking Act remains in limbo in the Senate, where it is currently in the Committee on Banking, Housing, and Urban Affairs.