Pandemic Migration Shifts Billions in Tax Revenue Among States
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States, cities and counties losing residents due to pandemic migration lost taxable income, while gaining areas benefitted. Manhattan lost $16.5B.
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Florida gained the most at $39B, fueling a record $21.8B budget surplus used for new projects and tax relief.
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Movers often stayed in the same region, like New Yorkers going to Florida and West Coasters to the Mountain West.
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Lower taxes and costs of living, reduced pandemic restrictions, and concerns over crime and schools likely motivated moves.
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Policymakers should recognize Americans now can move more freely, impacting state and local budgets.