Is Same-Sex Marriage Good for the Economy?

Besidessocial and civil rights reasons, there may be economic reasons to allowsame-sex marriage as well. 

Accordingto a recent study, New Jersey’s recent decision to allow same-sex marriage willgenerate economic gains of $48 to $119 million for the state over the nextthree years.  Another study predicts thatIllinois would generate an extra $103 million for the state over the next threeyears if it were to allow same-sex marriage.

Mostof the money injected into the economy because of this “gay marriage stimuluspackage” comes from the short-term spending on celebrating their nuptials.  Some experts also predict same-sex couples will benefitthe economy over time, “since they will get long-term savings from filing jointtax returns, and no longer have to pay extra taxes on employer-providedbenefits.”  However, legalizing same-sexmarriage could increase the cost to businesses of providing health insurance aswell as having the federal government pay out more in Social Security spousaland survivor benefits. 

See Quentin Fottrell& Kelli B. Grant, The Gay MarriageStimulus Package, MarketWatch, Oct. 21, 2013.