September 18, 2024
CommonWealth Beacon recently published an article referencing research conducted by Mark Williams, Master Lecturer of Finance.
A recent analysis by the Massachusetts Budget and Policy Center challenges the notion that Massachusetts is experiencing a population crisis due to outmigration. While the state recorded a slight increase in residents from 2022 to 2023, data shows that 45,000 more people departed than arrived in 2021. Some argue that the portrayal of a mass exodus is misleading and often used to advocate for tax cuts that would not benefit most of those leaving.
Williams’s research noted that while business groups claim residents are leaving for lower taxes in Florida, over half of those departing Massachusetts remain in New England. The reasons for leaving are more complex than taxes, highlighting the barriers for young people seeking to establish themselves in their careers.
As debates over tax policies continue, the situation remains complex, with factors like housing and healthcare costs playing significant roles in migration patterns. If current outmigration trends continue, by 2030, the state could lose over 96,000 residents annually.
