The study revealed that New York earned its lowest ranking in economic freedom, scoring poorly in categories such as debt, state and local taxation, government consumption, land use, and labor policy. In contrast, Florida secured the second position in the overall rankings, with New Hampshire claiming the top spot as the most free state in America.
Florida’s consistent high performance is attributed to its lack of state income tax, a feature that appeals to residents seeking greater economic freedom. On the other hand, New York faces challenges due to some of the highest combined state and local income taxes, particularly affecting wealthy residents in New York City.
The study highlighted that New York has consistently held the position of the “least free state” in every version of the index and every year covered by the report since 2000. The authors of the report recommend that policymakers in New York consider measures such as reducing spending and taxes, addressing debt issues, and abolishing rent control laws to improve the state’s overall freedom ranking.
In addition to New York, Hawaii and California also ranked near the bottom of the list, securing 49th and 48th place, respectively, in terms of overall freedom. The study offers insights into the policy landscape and its impact on freedoms across different states in the U.S., providing a comprehensive view of the varying degrees of freedom within the nation.
The Cato Institute has once again ranked New York as the LEAST FREE state.
They ranked each state in the country on personal and economic freedoms, based on state and local public policies.
Link:https://t.co/wqsToasYDd pic.twitter.com/hAOFpQCQKU
— Americat (@catmurphy209) November 20, 2023
“I’m shocked” said no one in New York. The disaster that is one party rule in New York has made our state less free, less prosperous, and less safe. It’s why we lead the nation in all the worst categories. It has to change. https://t.co/GMfAfROIzL
— Mike Lawler (@lawler4ny) November 20, 2023
