Mike Coffman and the About-face on Marijuana

A key argument put out by supporters of the Mike Coffman Campaign has been that Michael Bennet embodies "Boulder values."  But is Coffman just as in line with the views of the town once known as having the most Cannabis-friendly Campus in the nation and for decades has been considered a marijuana haven?

 Coffman has done an about-face on his views on marijuana legalization.  In a letter written to a constituent in 2010, Coffman stated, "Marijuana is a harmful drug. I support continued classification of marijuana as a controlled substance and disagree with arguments that it is harmless and should be classified in a manner similar to  alcohol."

Many of Mike Coffman's staunchly conservative supporters still stand against Amendment 64 which legalized marijuana in Colorado for recreational use.  On the other hand, Arapahoe county (the largest in Coffman's district) voted to pass Amendment 64 by a margin of  20,000 voters.  In fact, in the entire state of Colorado, the margin on Amendment 64 was over 250,000 voters, or ten percent of those who voted.

Wisely, Coffman has smelled the shift in the way the cannabinoid-laden wind is blowing in Colorado.

More recently, Coffman has begun to push for a law in Congress that would help those in the marijuana business do banking legally.  At the moment, Colorado pot shops are forced to do business with only cash.  This is done out of necessity, as credit cards and checks are not valid forms of payment since banks are not legally allowed to handle money that has come from pot shops (the federal government still lists marijuana as a Schedule I controlled substance).  Up until a few years ago, Mike Coffman felt that weed should remain a controlled substance and be under federal jurisdiction.  Now he is one of two republicans (the other, shockingly, is Representative Ron Paul) who support the bill which would allow businesses who sell retail marijuana to have bank accounts, pay appropriate and accurate taxes, and function as any other small business does nationwide.

Representative Coffman often alludes to the fact that forcing marijuana businesses to rely solely on cash transactions makes them highly vulnerable.  Criminals know that marijuana businesses have two things that people really want: lots of cash, and lots of grass.  The stores are gold mines for criminals looking to swipe whatever they are able to get their hands on: both the merchandise behind the counter and the hefty amounts of cash in the safe.  And the fact that the federal government sees marijuana business transactions as illicit makes the process of prosecuting criminals even more murky. 

The Obama Administration released guidelines for banks on how to conduct business with those in the marijuana industry.  However, many banks feel uncomfortable with the haziness of federal vs. state policy and the legality of their actions.  Most banks (especially national banks) are waiting for an act of Congress before beginning to take pot shop money. 

The act has been tabled in a subcommittee in congress and is destined to stay there, as the only members who seem to really care about the issue are from the two states where marijuana has been legalized: Colorado and Washington.  Senator Michael Bennet has voiced his support for the bill, and Senator Udall has yet to take a stance on it.