Texas surpasses California as America's core
Treasury Secretary Scott Bessent highlighted a significant migration of businesses and high-income taxpayers from California to Texas, citing lower taxes and business-friendly policies as key factors. Major companies such as Chevron, Tesla, and Hewlett Packard Enterprise have moved their headquarters to Texas, which has also surpassed California in energy production and utility-scale solar capacity. Bessent emphasized that Texas’s economic growth is driven by energy abundance and pro-business conditions, distinguishing it from California's regulatory and tax environment.
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