North Carolina's refusal to drop its bathroom law could cost it $5 billion a year

North Carolina's new anti-LGBT bathroom law is going to cost the state much more than its reputation. A new study released Wednesday by the Williams Institute at UCLA School of Law did the math, calculating that the state could lose as much as $5 billion if it decides to keep its law that requires transgender people to use the bathroom that corresponds to their biological sex.

The law would cost the state $4.8 billion in federal grants and contracts, $4.7 billion of which would be funding for public schools, colleges, and universities. On top of that, the state has already lost $40 million in business investments that have been withdrawn from the state. That total could increase by another $20 million if more businesses decide to exit the state.

Despite the Justice Department's ruling that the law violates the Civil Rights Act, North Carolina Gov. Pat McCrory (R) has remained adamant about keeping the law in place. The state of North Carolina filed a lawsuit Monday against the Justice Department to keep the law and the federal funding, saying the State Department's position was a "radical reinterpretation of Title VII of the Civil Rights Act." The Justice Department has since counter-sued.

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