The CLIMB Act seeks to boost cannabis industry financing and capital access

Today, Rep. Troy A. Carter, Sr., a Democrat from Louisiana, and Rep. Guy Reschenthaler, a Republican from Pennsylvania, introduced a new bill called The Capital Lending and Investment for Marijuana Businesses (CLIMB) Act. If passed and signed into law, The CLIMB Act could give a significant boost to a cannabis industry that is currently struggling with growing pains, a lack of access to capital, difficulty in obtaining banking and other standard business services, high taxes, and a consumer base feeling the sting of inflation and the potential for a looming recession.