1. News & Issues
Robert Longley

A Financial Upside to Gay Marriage?

By December 8, 2008

Follow me on:

The U.S. Congressional Budget Office (CBO) has estimated that if same-sex marriages were legalized in all 50 states and recognized by the federal government, the federal budget would gain almost $1 billion a year in new revenue.

Based on the responses to Census 2000, CBO estimated that nearly 600,000 same-sex couples nationwide would get married if they had the opportunity, and that those 600,000 newly married couples would pay up to an additional $700 million a year, mainly in income and estate taxes.

Currently, and as long as the Defense of Marriage Act remains in effect, the federal government does not recognize marriages of same-sex couples either for receipt of federal benefits or for tax purposes. Under the law, the federal government honors only marriages between one man and one woman.

CBO notes that considering the total national debt, the impact of $700 million a year "would be small," and that its estimate of the number of same-sex marriages is "highly uncertain."

In almost-broke California, where voters just overrode the state's supreme court by re-outlawing same-sex marriage, a University of California study estimated that gay weddings would generate $64 million in additional state tax revenue and create some 2,200 new jobs.

Also See:
Congressman Changes Mind on Gay Marriage
Same-Sex Marriage in the US (Civil Liberties)
Senate Rejects Gay Marriage Ban Amendment

Comments

December 8, 2008 at 4:03 pm
(1) Fran Townsend says:

As the mother of a gay son, I feel I have a right to expect my son and the thousands, if not millions, of other gay adults, to have the same rights to marital status, as anyone else. Who does outlawing marriage for gay couples help? Insurance companies, and righteous lunatics.
My son, other peoples sons and daughters, are guaranteed equal protection under the law. I guess that doesn’t apply when money enters into the picture.
Protecting marriage? Ha! Outlaw divorce!

March 20, 2013 at 7:35 pm
(2) Sam Gunter says:

I support same sex marriage. Gays and lesbians pay social security same as married men and women. Why should same sex partners be denied receiving survivors benefits from Social Security. This is clearly discriminating. It should have nothing to do with religion. If churches have the right to influence our federal and state governments, then churches should pay federal and state taxes. Church and State are supposed to be separate in our US government. Shouldn’t this be clear to our Supreme Court????? 3-20-13

Leave a Comment


Line and paragraph breaks are automatic. Some HTML allowed: <a href="" title="">, <b>, <i>, <strike>
Top Related Searches
  • gay marriage
  • december 8
  • marriage
  • ©2014 About.com. All rights reserved.