Site last updated: Tuesday, April 23, 2024

Log In

Reset Password
MENU
Butler County's great daily newspaper

Trump can remind people he is a titan of business

In the first bit of reasonable talk we’ve heard from this administration when it comes to the nation’s erstwhile “War on Drugs,” the White House confirmed Wednesday that President Donald Trump has promised to support legislation protecting states with legalized marijuana use from a federal crackdown.

That’s tremendously encouraging news given the harsh and out-of-touch rhetoric that’s been employed by Attorney General Jeff Sessions since he took the job.

In case you’ve missed the AG’s myriad statements on the matter, Sessions in January moved to scrap Obama-era guidelines that allowed states to proceed with legalizing the drug — whether for medical or recreational use — without fear of Department of Justice officials enforcing the federal government’s ban on the drug.

Sessions’ comments predictably set off a firestorm of speculation as to what the result of the policy rollback would be — not to mention criticisms that federal officials time might be better-spent combating the nation’s opioid epidemic.

Would well-established but troubled medical marijuana programs like California’s become sitting ducks for federal prosecutors?

Would fledgling programs like Pennsylvania’s be doomed to failure before they even got off the ground?

Thankfully for the thousands of patients in Pennsylvania who are benefiting from the drug, that has not happened.

But that’s despite the federal government, not because of it.

To be fair, the president has said multiple times that he believes this matter should be left up to the states. But he’s also hedged his bets and allowed his administration to send mixed signals.

In January, as news of Sessions’ move was percolating, White House press secretary Sarah Huckabee Sanders told reporters that Trump’s position had not changed — “but he does strongly believe that we have to enforce federal law ... whether it’s marijuana or whether it’s immigration.”

What are state officials, investors and the marijuana industry to make of that?

If the president’s position really is that states should take the wheel when it comes to the regulation and legalization of marijuana, then he needs to follow up his most recent pledge with actions.

Supporting the efforts of Colorado Sen. Cory Gardner to shield states from a federal crackdown is a start.

But if Trump really wants to get serious, he should throw his weight behind ensuring that this multi-billion-dollar industry has access to adequate and aboveboard banking services.

That shouldn’t be an impossible outcome to achieve, given that federal data released shortly before Sessions’ crackdown comments showed the number of financial service providers banking marijuana-related businesses was on the rise despite uncertainty about the administration’s position on pot.

This isn’t just about companies being able to secure large chunks of funding for startups or capital projects, or safe havens for their deposits at the end of the day.

Without full-fledged financial services businesses can lack the ability to do things most entrepreneurs take for granted — like pay employees through direct deposit, buy supplies with a debit card or purchase more product via wire transfers.

Trump clearly relishes his reputation as a titan of business. Is there a better opportunity to add to that legacy than becoming the president who delivered financial surety to an entire industry — and millions of dollars in tax revenue to state coffers?

More in Our Opinion

Subscribe to our Daily Newsletter

* indicates required
TODAY'S PHOTOS