Which states are Americans moving to and which are they leaving?

The Internal Revenue Service (IRS) has released interstate migration data for 2022. The data include the domestic movements of households into and out of each state broken down by income level and age group.

The table shows the net migration for each state and the ratios of in-migration to out-migration for all households, households headed by an individual age 65 and older, and households earning more than $200,000 a year.

The Senate is ready to raid the figurative emergency rainy day fund again. As we highlighted in a recent Debt Digest, Senate Appropriations Chair Patty Murray (D‑WA) and Vice Chair Susan Collins (R‑ME) have reportedly struck a deal to increase fiscal year (FY) 2025 discretionary spending by $34.5 billion by designating some ordinary spending as emergency funding.

Despite their significant policy differences, when it comes to Social Security both leading presidential candidates see eye to eye. Trump and Biden have both vowed not to cut Social Security. While these pledges may resonate with politically powerful voters, a “do-nothing” approach to Social Security that avoids necessary structural reforms and instead promises to preserve benefits at current levels, comes at a high cost for younger generations.

On June 12, I testified before the Joint Economic Committee (along with Cato’s own Adam Michel) on the current state of US industrial policy and the manufacturing “boom” its supporters assert has already begun. Below is my oral statement to the committee, which summarizes my longer written testimony.