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A Gay Wedding Windfall for New York
Business Week • Oct 21, 2011
New York may reap $310 million over the next three years from license fees, taxes, and tourism related to same-sex weddings, according to a May report by four New York state senators. Morgan Stanley (MS) Chairman John Mack, Goldman Sachs (GS) Chief Executive Officer Lloyd Blankfein, and other Wall Street executives argue that legalization was necessary for the state to remain an economic leader. As other places "extend marriage rights regardless of sexual orientation, it will become increasingly difficult to recruit the best talent if New York cannot offer the same benefits and protections," the business leaders wrote in an open letter in April urging legalization of same-sex unions.
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