Legalizing Gay Marriage Could Bring in $119M to NJ: Report

The legalization of same-sex marriage could bring millions of dollars into the New Jersey economy.

If same-sex marriage is legalized in New Jersey, the state could see an economic boon of $119 million over three years, economic experts say.

Gov. Chris Christie vetoed the bill that would legalize same-sex marriage in the state last month, but Lawmakers in New Jersey have until the end of the legislative session in January 2014 to override the veto.

There are 16,875 same-sex couple in New Jersey, according to the 2010 U.S. Census and, according to a study by the Williams Institute at UCLA, weddings by same-sex couples in the state could bring in $48 to $119 million over three years, which included $3 million to $8 million in tax revenue, reports the Philadelphia Business Journal.

The N.J. Legislature would need two-thirds of the lawmakers in the Assembly and Senate to override Christie’s veto. Both votes to pass it fell short of that mark.

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