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NYC Comptroller: Gay Marriage Good For Economy
By
Jen Chung
Published May 26, 2009
Modified May 26, 2009
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By
Jen Chung
Published May 26, 2009
Modified May 26, 2009
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The State Senate is still mulling over gay marriage legislation—maybe NYC Comptroller Bill Thompson's report showing that NY State "could gain over $200 million in the three years immediately following the legalization of marriage for same-sex couples" will help the senators make up their mind. The report is an update of his 2007 study, Love Counts: The Economic Benefits of Marriage Equality for New York. If the recession doesn't reduce the number of out-of-state guest, NY State could expect a $210 million gay marriage boom ($178 million is the recession is a factor) while NYC would expect $149 million ($120 million if the recession affects guest count). There would be higher insurance costs—$69 million, $37 million paid by employers. Thompson said, "Legalizing marriage for same-sex couples is not only good for the couples, but also for our economy. And while other states across our nation have legalized marriage for same-sex couples since my last report, I expect New York to still stand as a prime destination for many couples because it will stand as a welcoming beacon of diversity and acceptance." He is also "disappointed" the California Supreme Court upheld Prop 8.
Tagged
bill thompson
city comptroller
economy
gay marriage
prop 8
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
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