NEW YORK CITY - Politicians gathered on the steps of City Hall Wednesday to propose new marijuana legislation.

The politicians, led by Sen. Liz Kreuger, say selling marijuana and taxing it would bring in millions of dollars every year. They also say it would result in fewer people being arrested and imprisoned for minor offenses like marijuana possession.

"I also don't believe that a drug that is proven to be less dangerous from a health perspective than either alcohol or tobacco should be under laws that actually criminalize it and ruin lives," said Sen. Krueger.

The city and state would save money in prison costs if fewer of these arrests were made.

The legalization proposal is being called the "Marijuana Regulation and Taxation Act." If passed, New York would become the most populous state in the country to regulate and tax marijuana.