It’s been a real nightmare for these businesses and the communities they operate in.
It’s also created tremendous overhead costs in terms of storing, transporting, and handling that much cash.
These businesses can’t write checks to meet payroll or pay taxes. It forced one pot company's CEO to cart $3 million in cash down to the IRS, just to pay his tax bill.
The employees of cannabis businesses can’t even get access to loans for education or housing!
It’s pure insanity...
But this new bill aims to change all of this... fast.
It’s called the Secure and Fair Enforcement (SAFE) Banking Act.
As the name implies, it would make marijuana business practices better, easier, and safer.
These businesses will no longer have to spend money to protect their piles of cash.
The SAFE Banking Act would allow cannabis companies to not only put their cash in banks but also access cash from those same banks...
Cash that grows businesses and increases shareholder profits.
And it has outstanding support from both sides of the aisle — including from key Trump administration officials.
I believe this bill will move on to the Senate in short order... and then to President Trump.
President Trump has already declared: