Chafee Has Open Mind On RI Legalizing, Regulating Marijuana

RHODE ISLAND:  Governor Chafee attended the National Governors Association this weekend in Washington, D.C. and learned that legalizing and regulating marijuana may be a big source of tax revenue for Rhode Island.

Chafee listened to Colorado Gov. John Hickenlooper and discovered that marijuana will generate more than $100 million in tax revenue and regulatory fees for his state this year.

Afterward, Chafee spoke to a reporter from Bloomberg News and said that Colorado’s windfall from marijuana sales “opened a lot of eyes,” and has fostered a discussion on whether to “regulate and tax it in these tough times.”

Rhode Island has the nation’s highest unemployment rate at 9.1 percent.