Paying Taxes With Duffel Bags Of Cash Like Scarface, Scotts Miracle-Gro CEO On Need For SAFE Banking Act

The cannabis industry waits to hear if marijuana bank reform will be included in an omnibus spending bill. James Hagedorn is a CEO at Scotts Miracle-Gro SMG and was one of the largest investments made by any major U.S. company in the marijuana sector. Hagedorn isn't just interested in seeing the SAFE Banking Act pass, but he also wants it to be passed for personal reasons. It is inefficient. The reporter asked Hagedorn what his thoughts would be to them if he was listening. "Well, first, I believe there are 60 votes for this to be passed by the Senate. The House has passed it multiple times with bipartisan support. There are many good people. Steve Daines is the co-sponsor for the Republican side of the Senate. He said that he was a Republican from Montana and that he didn't support marijuana. "What I don't support is banking dysfunction. This is not about pot. It's about banking dysfunction. Today, people have to pay taxes for legal businesses that use duffel bags full of cash and counting machines such as Scarface. This is not America's normal practice. Voting is a popular choice for Americans. This is why they have difficulty getting mortgages. This is bad and dysfunctional. All the Senate needs to do is give legal businesses access to banking. Hagedorn states that if the bill passes in the lame duck session, he doesn’t believe big financial institutions like JP Morgan Chase JPM or Fifth Third FITB will embrace the industry at the same time because of 'a lot sensitivity about compliance. Hagedorn agrees with Senator Danes about the importance of the SAFE Act as a step towards much-needed marijuana reform. Let's not forget one thing: if you have lots of cash, it can lead to crime. People must also take the money in cash. People must take this money in cash.