Moving Out
What to know: While the November election results may seem to be inconclusive, Americans are making their thoughts on red states vs. blue states very clear: They’re moving out of the blue and into the red states.
The TPPF take: People are moving out of states like California and to states like Texas.
“When coupled with California’s 46th-place ranking for state and local taxes in 2022 — New York was 50 — its heavy regulatory compliance burden, calculated at $134,000 annually for small businesses back in 2009 and no doubt far worse today, its business-crushing response to the Covid-19 virus, and crime with no consequences thanks to district attorneys in Los Angeles and San Francisco, it’s no wonder inbound movers from other states plummeted 38 percent while Californians fleeing out of state increased 12 percent last year,” says TPPF’s Chuck DeVore.
For more on blue states vs. red states, click here.
Budgeting for the Future
What to know: Last week, the Legislative Budget Board adopted a spending limit for the next two-year budget cycle.
The TPPF take: Policymakers set the growth rate at 12.33% for the 2024-25 biennium. It’s important that this measure be seen as a ceiling, not a floor.
“Legislators should strive to spend less than the new limit allows, if for no other reason than this: Every dollar that isn’t spent is a dollar that can be returned to Texas families in the form of lower property taxes. In other words, less spending makes possible more tax relief,” says TPPF’s James Quintero.
For more on the state budget, click here.
College Affordability
What to know: A new report shows that college tuition is actually falling—slightly.
The TPPF take: College tuition is still high, and it’s important we give prospective students all the information they need to make the best decisions about higher education.
“For years we’ve asked students to make one of life’s most important decisions essentially blindfolded,” says TPPF’s Andrew Gillen. “We’ve told them a college degree is the surest path to success but have given them little guidance on where to go to college or what major to choose once they get there. As a result, too many students leave with a mountain of debt and a credential that isn’t worth much on the labor market.”
For more on college tuition, click here.