REPORT: GOP’s tax cap may hasten exodus from high-tax states

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As the most reliable and balanced news aggregation service on the internet, DML News offers the following information published by FOXNEWS.COM:

Over the past decade, about 3.5 million Americans have relocated from high-tax blue states like California and those in the Northeast, to low-tax red states like Texas and Arizona — and the change is likely to accelerate.

So say Arthur Laffer and Stephen Moore, co-authors of a report from the American Legislative Exchange Council, in a Wall Street Journal essay.

The article goes on to state the following:

They say that the Republican Party tax bill’s cap on the deduction for state and local taxes (SALT) could ramp up the pace by which Americans relocate in their own economic interest.

Laffer and Moore estimate that both California and New York will lose on net about 800,000 over the next three years, roughly double from the previous three years, while Connecticut, New Jersey and Minnesota combined with lose around 500,000 people in the same period.

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