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Thursday, March 1, 2012

Stevenson: Tax Consequences of Federal Same-Sex Marriage Legalization

Adam Stevenson (University of Michigan, Department of Economics), The Labor Supply and Tax Revenue Consequences of Federal Same-Sex Marriage Legalization:

The issue of same-sex marriage legalization is increasingly part of the national political dialogue. This legalization would have a number of economic impacts, one of the most direct being a change in income tax payments, through the so-called marriage penalty. I estimate the eff ects of same-sex marriage legalization on federal income tax revenue. These estimates rely critically on the responsiveness of labor supply and marital choice to changes in the tax code. I present new evidence on both topics using changes in taxation generated from the 2003 Jobs and Growth Tax Relief Reconciliation Act. In addition, I propose a novel measure of the marriage penalty that incorporates the fact that agents will respond optimally to changes in marginal tax rates within the household.

http://taxprof.typepad.com/taxprof_blog/2012/03/stevenson-.html

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