The Scotts Miracle-Gro Company supports President Trump’s executive order to reschedule cannabis from a Schedule I to Schedule III drug. This move will strengthen the legal cannabis industry, allowing for more research into medical uses like treating PTSD and cancer. Rescheduling will eliminate the 280E tax penalty on cannabis companies, boosting profitability and growth opportunities. ScottsMiracle-Gro’s subsidiary, Hawthorne Gardening Company, could benefit from increased capital investments in the legal cannabis market. Despite the reclassification, ScottsMiracle-Gro remains focused on growing its core consumer lawn and garden business. Schedule III puts cannabis on par with drugs like Tylenol with codeine and Vicodin.

Read more at GlobeNewswire: ScottsMiracle-Gro CEO Expresses Support for President’s