(TargetLiberty.org) – In recent years, California and New York have seen residents moving away to less expensive and government friendlier states like Texas and Florida. Former Speaker of the House Paul Ryan (R) expects that trend to continue.
On April 15, Ryan spoke at the George W. Bush Presidential Carter’s Forum on Leadership about rising costs in some cities. He said he thinks we’re “going to see a big migration” from places like NYC resulting from the high costs of living, high taxes, and overall attitude toward business. The former speaker doesn’t believe places like New York “appreciate job creators.”
Ryan also explained that the state and local tax deductions (SALT) cap, which the GOP enacted as part of former President Trump’s 2017 tax law, has exposed the high cost of living in some cities.
Former Speaker Paul Ryan predicts 'big migration' from high-tax NYC to cities in Texas, Florida https://t.co/whsMfqnBYI
— Fox News (@FoxNews) April 18, 2021
According to Fox News and the New York Post, at least 20 finance and technology firms are planning on leaving NYC to move to Florida. Other companies have also moved away from California to set up shop in tax-friendly places. Eventually, these states may either have to address the rising costs or see even more companies relocate, taking their jobs with them.
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