20 11, 2014

Work session focuses on financial institutions and marijuana

November 20th, 2014|Radio|

The Senate Financial Institutions, Housing and Insurance Committee discussed the difficulties between federal and state laws regarding marijuana and financial institutions. (TRT: 1:06) CLICK TO DOWNLOAD


Currently, the recreational marijuana industry in Washington state is cash only and major credit cards are not accepted forms of payment. Banks and credit lenders are caught in between federal and state laws regarding marijuana. Sen. Mark Mullet of Issaquah is the Senate Financial Institutions, Housing and Insurance Committee vice co-chair and participated in Thursday’s work session which discussed these issues.

Sen. Mark Mullet, D-Issaquah: (TRT: 29 ) CLICK TO DOWNLOAD “We are glad there are a variety of banks and credit unions in the state who are going ahead to try to help the industry out, and that’s good for us because it’s more likely we’ll actually get tax revenue back from the industry if they can go through the regular banking channels. But, we don’t think the Feds are going to provide the kind of guidance, the overall banking network is looking for, so all we’re trying to do now is make sure the Liquor Control Board has very clear rules and mechanisms in place so the banks know that the people they’re dealing with are following the law.”

So far, in the five months that retail recreational marijuana stores have been open in Washington State, the industry has reported $40 million in revenue – $10 million of which has come back to the state in excise taxes.

Nicole Vukonich reporting in Olympia.

19 11, 2014

Nelson re-elected to top leadership position in Senate Democratic Caucus

November 19th, 2014|Radio, Uncategorized|

Washington State Senate Democrats have re-elected their leader (TRT: 46) Nicole Vukonich reports. CLICK TO DOWNLOAD

Sen. Sharon Nelson, D-Maury Island: (TRT: 17) “I am very honored to have been elected as Senate Democratic Leader for the next two years. I appreciate the confidence of my caucus. We are facing very significant challenges in making sure that we provide funding for education for our kids, and therefore, their future and the future of the state of Washington.”

That’s Sen. Sharon Nelson of Maury Island, the newly re-elected leader of the Senate Democratic Caucus. While education will likely take up most of the debate when the legislative session begins in January, Nelson adds that there will be additional priorities to address.

Sen. Sharon Nelson, D-Maury Island: (TRT: 13) “We also have to take a look at what we are doing for working families, particularly with income inequality, and protecting the homeless. We have 30,000 homeless children in the state. Making sure they are taken care of and other obligations are met is also critical.”