Spending on same-sex weddings generated $1.58 billion for US economy

Los Angeles—Marriages by same-sex couples have generated an estimated $1.58 billion boost to the national economy and $102 million in state and local sales tax revenue since the U.S. Supreme Court’s decision extending marriage equality nationwide in June 2015, according to a new study by the Williams Institute at UCLA School of Law. 

Since the Supreme Court’s ruling in Obergefell v. Hodges, 123,000 same-sex couples have tied the knot, according to an analysis by Gary J. Gates, former Williams Institute Research Director.  The Williams Institute study, titled “Estimating the Economic Impact of Marriage for Same-Sex Couples One Year after Obergefell,” estimates the impact of those marriages on the national economy, state and local sales tax revenue, and job creation.

“This study shows that businesses and governments have benefited from marriage equality,” said Christy Mallory, study co-author and Senior Counsel at the Williams Institute.

Key findings from the report include:

• Total spending on the 123,000 marriages generated an estimated $1.58 billion, including $1.35 billion in direct wedding spending by the couples and $228 million in spending by out-of-state guests.

• This economic boost has added an estimated $102 million to state and local coffers in the 46 states that collect state and local sales taxes.

• This spending could support an estimated 18,900 jobs for one full year.

The methodology used in this study is similar to that used in previous Williams Institute studies that have estimated the economic impact of marriage for same-sex couples at the state level.

Click here for the full report.

The Gayly – June 26, 2016 @ 7:15 a.m.