Congressman Troy Carter is renewing his push to modernize federal cannabis policy with bipartisan legislation aimed at giving legal marijuana businesses access to basic financial tools.
During a wide-ranging interview on DC Current, Carter discussed the CLIMB Act—short for the Capital Lending and Investment for Marijuana Business Act. The bill addresses a long-standing conflict between state and federal law: while nearly 40 states, including Louisiana, have legalized some form of cannabis, those businesses are still largely shut out of traditional banking and Small Business Administration (SBA) resources.
“What CLIMB does is treat cannabis businesses like the legitimate businesses they are,” Carter said. “If it’s legal to sell it, it should be legal to bank it.”
Under current federal rules, many cannabis operators cannot take out loans, deposit earnings, or receive SBA technical assistance—even when they fully comply with state law. Carter said the bill would not expand legalization or override state regulations. Instead, it simply levels the playing field by allowing existing, legal businesses to access capital for repairs, upgrades, staffing, or growth, just like any other business.
The legislation is bipartisan, with Republican Congressman Guy Reschenthaler of Pennsylvania joining Carter as a co-sponsor. Carter says support for the bill is growing as lawmakers recognize the economic reality of the cannabis industry and the safety risks tied to cash-only operations.
“It’s common sense,” Carter said. “Either it’s legal or it’s not. And if it’s legal, you shouldn’t treat it differently from every other lawful business in America.”
Carter also touched on broader issues in Washington, including concern over a potential partial government shutdown and stalled negotiations over federal agency funding. He emphasized the need for accountability, transparency, and bipartisan cooperation—principles he says are reflected in the CLIMB Act.
For Carter, the goal is straightforward: recognize state-legal cannabis businesses as legitimate enterprises and give them the tools they need to operate safely and responsibly in the modern economy.
Listen to “Carter’s CLIMAC Act Aims to Level the Playing Field for Cannabis Businesses” on Spreaker.