Biden vows to use federal funds for cannabis expungement, ignorant to banking services

The Biden-Sanders Unity Task Force was unleashed by presumptive Democratic presidential nominee Joe Biden on July 10. “It is past time to end the failed ‘War on Drugs,” reads a proclamation featured in this in-depth plan for drug reform. 

Is this a genuine effort to dismantle drug-related crime, restore nationwide harmony and pave the way for federal legalization? While it may or may not simply be a ploy on Biden’s part to score more votes at the forthcoming election, one thing is for sure: the Biden-Sanders Unity Task Force isn’t concerned about the lack of cannabis banking services.

Instead of streamlining the process of state-legal cannabis businesses capitalizing on the industry through collaborations with financial institutions, the plan focuses heavily on criminal justice reform and other elements.

Biden claims he will relieve communities of color from cannabis conviction woes

On Tuesday, July 28, Biden proclaimed that criminal records for cannabis-related felonies indicate a significant systemic barrier for economic growth. He emphasized the impact that it has had on communities of color. Criminal records that are tainted with cannabis convictions could limit a person’s potential, says Biden, who vows to provide federal assistance to states for automatic expungements.

“Right now, that criminal record is the weight that holds back too many people of color, and many whites as well,” he said, adding that the expungement or sealing of cannabis-tarnished records are “complicated and costly in the states where the records are kept.”

Although he continuously opposes cannabis legalization, Biden wants states to acknowledge the financial repercussions that may fall burden on their economies if non-violent criminal records limit people’s potential to contribute as a tax-paying worker.

“Under my plan, if a state decides it wants to implement an automated system for the sealing and expunging of certain nonviolent criminal records, if a state chooses to do that, the federal government will help put together the process and allow them the money to be able to know how to organize to do that. That’s what racial equity in our economy looks like,” he affirmed.

Interestingly, the could-be president did not go into detail about the disciplinary drug laws he previously introduced that, consequently, resulted in many people of color being slapped with a criminal record. 

What elements of cannabis reform does Biden support?

Although Biden didn’t focus on cannabis banking services in his reform motives, the presidential nominee has been open about his ideas to decriminalize cannabis possession; should he get elected as the next president of the United States. 

According to Biden’s racial equity plan, he will assist states in updating the infrastructure of their criminal justice data. This, he says, can create opportunities for redemption and re-entry. 

“This data infrastructure will facilitate sealing of records in a manner that is precise, complete and efficient—so those records are not used to deny people jobs, housing, voting rights, school loans and other opportunities to rebuild their lives,” the plan states. 

Whether or not his efforts will be rewarded is yet to be seen. Then again, we shouldn’t forget about Biden’s lack of support to legalize cannabis for adult-use and therefore he may not be a fast-track option for overall cannabis reform.