Trump Treasury Secretary Wants Marijuana Money In Banks
Steven Mnuchin
"I assure you that we don't want bags of cash " Treasury Secretary Steven Mnuchin testified on Tuesday during an appearance before the House Financial Services Committee. "We want to make sure that we can collect our necessary taxes and other things."
Last week  a top Treasury official wrote in a letter to lawmakers that the department is "consulting with law enforcement" about whether to maintain the guidance for depository institutions. Last month  a  Mnuchin  deputy testified at a Senate hearing that the banking document remains in effect while the administration weighs whether to revoke it.
At the Tuesday hearing   Mnuchin  confirmed that the department is "reviewing the existing guidance." But he clarified that he doesn't want to rescind it without having an alternate policy in place to address public safety concerns.
Rep. Brad Sherman (D-CA) told  Mnuchin  that simply deleting the banking memo "would really make it better for armed robbers in my community  because there'd be huge amounts of cash at the local marijuana dispensary."
"We specifically haven't taken it down  " Mnuchin  said of the 2014 memo. "We are looking at what Justice has done. And again  as I said  we're sensitive to the issue of dealing with the public safety issue and also making sure that the IRS and others have ways of collecting taxes without taking in cash."
"I assure you that we don't want bags of cash " Treasury Secretary [TGT] testified on Tuesday during an appearance before the House Financial Services Committee. "We want to make sure that we can collect our necessary taxes and other things."
Last week  a top Treasury official wrote in a letter to lawmakers that the department is "consulting with law enforcement" about whether to maintain the guidance for depository institutions. Last month  a  Mnuchin  deputy testified at a Senate hearing that the banking document remains in effect while the administration weighs whether to revoke it.
At the Tuesday hearing   Mnuchin  confirmed that the department is "reviewing the existing guidance." But he clarified that he doesn't want to rescind it without having an alternate policy in place to address public safety concerns.
Rep. Brad Sherman (D-CA) told  Mnuchin  that simply deleting the banking memo "would really make it better for armed robbers in my community  because there'd be huge amounts of cash at the local marijuana dispensary."
"We specifically haven't taken it down  " Mnuchin  said of the 2014 memo. "We are looking at what Justice has done. And again  as I said  we're sensitive to the issue of dealing with the public safety issue and also making sure that the IRS and others have ways of collecting taxes without taking in cash."