Friends and neighbors,
The IRS has released alarming new data on state income migration. Minnesota’s net out-migration of income in 2022 was $2.19 billion – up from $215 million in 2017. This means we’re losing billions in taxable income annually, placing us among the worst-performing states nationwide.
Many of us have been sounding the alarm that the economic climate Democrats are creating here is going to have real-world consequences. We’re seeing those consequences unfold before our eyes.
The way back on track is pretty straightforward. We have to stop the reckless spending sprees and get existing spending under control; provide real, meaningful tax relief that makes it easier for Minnesotans to afford to live; eliminate expensive, burdensome, unnecessary regulations that do nothing other than drive up costs and make it hard to do business here.
We can’t ignore this problem any longer.
Review the data here: https://www.irs.gov/statistics/soi-tax-stats-migration-data-2021-2022
If you have any questions, please let me know.
God Bless,