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NYC Comptroller Says Gay Marriage Could Bring $210 Million to State

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The New York City Controller says if the state legalizes same-sex marriage, it stands to benefit by as much as 210-million dollars in just the first three years.

Comptroller William Thompson updated a 184-million dollar estimate from a study done two years ago. The 210-million figure accounts for inflation and a larger number of gay couples estimated by the U-S Census. But it does NOT include the effects of the recession, or the fact that fewer gay couples and their guests need to travel now that same-sex marriage is spreading through New England. Put that into the mix, and Thompson says the three-year benefit to New York State would be much lower: just 178-million.

As in 2007, most of the benefit accrues to New York City, which stands to benefit to the tune of 120-million dollars — including the effect of the recession.

But where there are benefits, there are usually also costs. In this case, Comptroller Thompson says the main cost would be to businesses that do not already offer domestic partner benefits, but would suddenly have to shoulder health insurance costs for married gay and lesbian employees. Subtracting those costs leaves a net benefit of legalizing same-sex marriage in New York State of 109-million dollars over the first three years.

Thompson said in a statement that even though other states have legalized same-sex marriage since the 2007 study, he expects “New York to still stand as a prime destination for many couples because it will stand as a welcoming beacon of diversity and acceptance.”

-Tim Curran

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Written by OutQ News staff

May 28, 2009 at 10:20 AM

Posted in Uncategorized

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