Fed up New Yorkers, including owners of businesses, continue to flee the Empire State.
The combination of an already high tax burden with the economic downturn from the coronavirus pandemic has New York at the bottom of the list for "economic outlook," a report said.
In the latest review by the American Legislative Exchange Council, New York ranked 50th. But it's not all covid. New York has been in the review's cellar for six years in a row.
“One of the ultimate measures of whether a state is successful or not is, are people voting with their feet towards that state or away from that state,” said one of the report’s authors, Jonathan Williams.
“Of course we’ve seen some big trend lines over the years now by changes in federal policy such as the limitation to state and local tax or SALT deduction that has put pressure on high-tax states and has driven migration away from states like New York. We’ve recently seen these trends accelerate,”
Economist Stephen Moore added: “You’re seeing a migration of people out of these high-tax states. It’s really putting a stress on the budgets in states like New York, Connecticut, New Jersey and Rhode Island.”
While New York remained stuck at the bottom of the list, Utah kept its No. 1 spot.
The American Legislative Exchange Council's full report can be seen here
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