Economic Impact
A study from the University of California, Los Angeles estimated in 2007 that extending marriage rights to same-sex couples would result in a net gain of approximately $3.2 million each year to the state budget. The study drew on data from the U.S. Census Bureau and Maryland statistical reports. The gain is attributable to savings in expenditures on means-tested public benefit programs and an increase in sales and lodging tax revenue from weddings and wedding-related tourism.
Another Williams Institute study conducted in February 2012 estimated that in the first three years after the law takes effect, Maryland same-sex couples will generate between $40 and $64 million for the state economy, in addition to whatever revenue out-of-state couples bring. Several dozen small employers in the state have also said that same-sex marriage will be good for their businesses, helping to attract and retain talent.
Read more about this topic: Same-sex Marriage In Maryland
Famous quotes containing the words economic and/or impact:
“Our country has deliberately undertaken a great social and economic experiment, noble in motive and far- reaching in purpose.”
—Herbert Hoover (1874–1964)
“As in political revolutions, so in paradigm choice—there is no standard higher than the assent of the relevant community. To discover how scientific revolutions are effected, we shall therefore have to examine not only the impact of nature and of logic, but also the techniques of persuasive argumentation effective within the quite special groups that constitute the community of scientists.”
—Thomas S. Kuhn (b. 1922)