An estimated 277 people are moving out of the New York City metro area every day, a loss that is being cushioned by a large influx of immigrants, reports Bloomberg News. Gov. Andrew Cuomo claims the exodus is being fueled by a $10,000 cap on deductions for state and local taxes.
Based on 2018 Census data, “New York leads all U.S. metro areas as the largest net loser with 277 people moving every day -- more than double the exodus of 132 just one year ago,” according to Bloomberg.
Also, “[f]rom July 2017 to July 2018, a net of close to 200,000 New Yorkers sought a new life outside the Big Apple while the area welcomed almost 100,000 net international migrants” reported the news service.
The report also noted in contrast that cities such as Dallas, Orlando, Phoenix, Tampa, Las Vegas, Austin and Atlanta enjoy an average of 100 daily new arrivals, from international and national migrants.
“Some areas are affected by high home prices and local taxes, which are pushing residents out and deterring potential movers from other parts of the country,” said Bloomberg. “About 200,000 residents left New York last year. Los Angeles had a decline of nearly 120,000 and Chicago fell by 84,000. Miami, Washington D.C., San Francisco and San Jose experienced similar trends.”
Fox Business reported that Florida was the state gaining the most migrants while “New York had the third-largest outflows of any state, with 452,580 people moving out within the past year.”
The Hill disclosed that the mass migration has more to do with bad administration on N.Y. Gov. Cuomo’s (D) part than it has to do with tax policies.
Cuomo claims the tax cap implemented by the Trump administration and Congress in 2017 not only hurts New Yorkers, but is also the main cause for the mass migration.
“New York City, where more than 40 percent of the state population lives, is the most expensive city in America, with affordable neighborhoods ridden with crime and homelessness,” said The Hill. “It is no wonder why people are fleeing in droves, with 1.2 million New Yorkers leaving since 2010.
“Last year, New York had the largest overall population loss in the nation. As residents continue to leave, the huge hole in the state budget will only increase.”
“The largest share of people leaving New York are middle class workers and high income earners, reported The Hill. “Indeed, the Empire State is the number one state where residents making more than $200,000 are leaving.
“Meanwhile, the middle class now represents a minority of the residents in New York City. Income and property tax hauls will continue to fall as state officials have yet to learn from their policy errors.”