Rep. Perlmutter Announces Not Seeking Re-Election; Championed Cannabis Banking, CU Bills

Rep. Ed Perlmutter of Colorado, one of Congress’s loudest advocates for cannabis banking legislation, will not seek reelection in 2022.

A member of the House Financial Services Committee, Perlmutter has been a driving force behind the push to allow federally regulated financial institutions to work with cannabis firms in states that have legalized the substance.

Perlmutter also introduced legislation to modernize the member expulsion process in this Congress. He previously introduced bipartisan legislation to allow National Credit Union Share Insurance Fund coverage for trust accounts, which was eventually signed into law in 2014.

Perlmutter is the 26th House Democrat so far to bow out of politics before the 2022 midterm election. He was reelected in 2020 with more than 59% of the vote, and his congressional district, Colorado’s 7th, was considered a relatively safe Democratic seat. But the coming midterm elections are expected to be historically tough for President Biden’s party.

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