Potential Economic Benefits of Gay Marriage in New York

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Potential Economic Benefits of Gay Marriage in New York

Just recently our nation has taken initiative into changing the gay rights that our nation lacks by repealing the Don’t Ask Don’t Tell policy that was established in 1993 by our former president Clinton. In the United States there are only five states, not including District of Columbia, that have legalized same sex marriage. Lawmakers ignore the fact that legalizing gay marriage has economical benefits. If the state of New York were to make gay marriage legal, it will result in a positive net impression on the state’s budget as it did for Vermont according to the article ‘The Economic Impact of Extending Marriage to Same-Sex Couples in Vermont” by Christopher Ramos, M.V. Lee Badgett, and Brad Sears of the William Institute. Specifically for New York, according to The New York Times article, “Would Gay Marriage Help the State Economy?” By Jeremy W. Peters, the state’s economy would gain $210 million over three years.

If using the state of Vermont as a precedent. All the results that will happen to Vermont will happen to New York but at a much greater scale. Like predicted for Vermont, wedding and tourism businesses will generate a lot of revenue which will also lead to more jobs. In the “Economic Impact of Extending Marriage to Same-Sex Couples in Vermont” It mentions that Forbes Magazine forecasts that if same-sex marriage were to be nationwide it would generate $ 16.8 billion in expenses making a significant gain in the United States yearly $70 billion business.

The tourism business will also get an advantage from the legalization of same-sex marriage. This will not only benefit hotels in the state but international businesses as well. The establishment of same-sex marriage in California and Oregon assisted these projections. It was noted that same sex couples from eight different countries and 46 states traveled to San Francisco on the one month that the city issued same sex marriage. For...
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