Allowing gays and
lesbians to marry in New York State would bring a
$184 million increase in spending--$142 million of
which would go to New York City--over a
three-year period, a study by the New York City
Comptroller's office revealed Tuesday.
The report,
called "Love Counts: The Economic Benefits of Marriage
Equality for New York," reasoned that an estimated half of
the 50,854 same-sex couples who are registered as
residing in the state would marry if given the chance,
leading to an anticipated influx of revenue stemming
from local taxes, city marriage license fees, and personal
spending.
"Legalizing marriage for same-sex couples in New York
would have impacts beyond allowing individuals to make
the full legal commitments to their partners that
opposite-sex couples take for granted," comptroller
William Thompson said in the report.
The report also
foresees more than 56,000 couples from other states
visiting the Big Apple to get married, including those from
nearby New Jersey, Connecticut, and Pennsylvania.
Nancy Swartz, a
videographer based in New York who specializes in
capturing same-sex union ceremonies, said she anticipates a
significant growth in her business if same-sex
marriage is passed.
"My
business did increase from New Jersey [civil unions] when
the law passed," she said of her company,
MarryMeGay.com. "Couples that I talked to in
New Jersey after civil unions were passed said that they
wanted to do it, so they just did it. I think a lot of
New York couples will do the same."
Swartz said she
is sought out by gay and lesbian couples because of her
approach to documenting their special day.
"A lot of
traditional videographers who do straight weddings have a
formula, whereas gay couples all have their own stories that
have to be told a certain way," she said.
"Sometimes one bride will wear a dress, and
sometimes both wear a dress. Other times they get ready
together. I capture their stories more individually.
The couples don't have to explain who they are.
There is no exception."
Part of the $142
million uptick for New York City's economy would be a
$58 million spending boom from couples and guests coming to
visit the city for destination weddings. Increased
rates of home ownership among couples could generate
$40 million in real estate taxes for New York City
alone.
Though couples
would still not be allowed to file jointly on their
federal income taxes because of the Defense of Marriage
Act, New York companies would be required to grant
benefits for employees' spouses and families.
About 211,000 New York City-based firms would pay a
total of $11 million per year in health insurance
costs for dependents, while approximately 503,000
state companies would pay about $21 million annually
for the additional coverage.
Additionally,
those who receive assistance from the state's
Medicaid program may become ineligible for those
benefits if they marry someone whose income or
assets are sufficient to lift them above the income
and asset thresholds for these programs. Thompson estimated
that the state would save about $110 million in
Medicaid outlays over the three-year period looked at
in the report. (Michelle Garcia, The Advocate)
