New data shows taxpayer exodus from California under Gavin Newsom

A recent report reveals that under Governor Gavin Newsom’s administration, California experienced a significant outflow of taxpayers, with one resident leaving the state every minute. This alarming trend is attributed to high living costs, particularly housing prices, and increased taxation, prompting many residents to seek more financially viable states. The report highlights the economic challenges facing California, including rising inflation and the costly regulatory climate, which have exacerbated the state’s affordability issues. As taxpayers exit, California faces potential budgetary constraints and concerns about future economic growth. This mass migration emphasizes the need for policy reforms to address affordability and keep residents from abandoning the state. The data serves as a wake-up call for California legislators to consider strategic economic changes that could potentially stabilize population retention and strengthen the state’s fiscal health.

New York Post