Top Pro & Con Arguments
Gay marriages bring financial gain to federal, state, and local governments, and boost the economy.
The Congressional Budget Office estimated in 2004 that federally-recognized gay marriage would cut the budget deficit by around $450 million a year.
In July 2012 New York City Mayor Michael Bloomberg announced that gay marriage had contributed $259 million to the city’s economy in just a year since the practice became legal there in July 2011.
Government revenue from marriage comes from marriage licenses, higher income taxes in some circumstances (the so-called “marriage penalty”), and decreases in costs for state benefit programs.
In 2012, the Williams Institute at the University of California at Los Angeles (UCLA) found that in the first five years after Massachusetts legalized gay marriage in 2004, same-sex wedding expenditures (such as venue rental, wedding cakes, etc.) added $111 million to the state’s economy.Read More