The red states racing ahead in America’s powerful wealth boom — and the states falling behind
Recent IRS migration data shows a significant population and wealth shift from coastal blue states to Southern and Sun Belt red states. Texas and Florida are leading this trend, gaining substantial numbers of new residents and taxable income. Meanwhile, states like California and New York are experiencing notable outbound migration, impacting their economies and political representation.
- ▪Texas gained over 56,000 residents and $5.5 billion in taxable income between 2022 and 2023.
- ▪Florida saw an influx of more than 55,000 income tax filers and gained approximately $20.6 billion in taxable income.
- ▪California lost over 100,000 income tax filers and nearly $12 billion in taxable income during the same period.
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Politics The red states racing ahead in America’s powerful wealth boom — and the states falling behind By Amanda Macias Fox News Published May 24, 2026 8:41am EDT Facebook Twitter Threads Flipboard Comments Print Email Add Fox News on Google close Video ‘We say yes to business’: Texas Association of Business reveals why companies choose Texas Megan Mauro of the Texas Business Association tells Fox News Digital that low taxes and light regulation are key drivers of business migration to the Lone Star State. NEWYou can now listen to Fox News articles! Americans, along with billions in taxable income, are flocking to Southern and Sun Belt states, accelerating a population and wealth shift away from several coastal blue-state strongholds, according to new IRS migration data.
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