“I am worried that declining rates of international immigration will hurt not only future economic growth in New York City but the stability of New York City’s tax base,” Hendrix explained.
Traditionally, immigration influxes make up for other residents departing the city for other states across the U.S. This has not been the case during the 2016-2019 period.
Also, a booming economy usually acts as an incentive for immigrants looking to stake their claim in America. Indeed, the Trump economy from 2016-2019 roared in multiple respects, but failed to draw increased immigration.
This again points to the Trump administration’s tight immigration policies, which has effected New York City in a big way. Currently, the city is struggling with a $9 billion budget deficit not seen since the 1970’s.
In August, New York Gov. Andrew Cuomo (D) pleaded for New York City’s wealthy residents to return to the city:
“I literally talk to people all day long who are now in their Hamptons house who also lived here, or in their Hudson Valley house or in their Connecticut weekend house, and I say, ‘You got to come back, when are you coming back?’” Cuomo said.
