New York is the worst state for economic outlook, according to legislative study group

The American Legislative Exchange Council has named New York the worst state in the U.S. for its economic outlook, as residents flee New York City during the coronavirus pandemic.

ALEC, an organization of pro-free market state legislators, on Wednesday released its annual ranking Rich States, Poor States. The group ranked states according to competitiveness and economic outlook based on policy choices. New York placed 50th overall for the seventh year in a row, saddled with low scores in a number of areas: corporate and personal income tax rates, property taxes, estate/inheritance taxes, average workers' compensation costs, and "recently legislated tax changes."

"The data outlined in the 13th edition of Rich States, Poor States shows how economically competitive states thrive and how those that don't make proactive pro-growth reforms, like Connecticut and Illinois, are left in the dust," said study author Arthur B. Laffer.

"Sound tax policy and eliminating excessive government regulations continue to stand strong and true in improving states' competitiveness, and we hope these states' stories serve as a guide as we navigate the economic recovery following the Covid-19 pandemic," said Laffer, the founder of supply-side economics and an informal economic adviser to President Trump. 

Other states ranked low include Vermont, New Jersey, Illinois, and California. Some of the best states for economic outlook included Utah, Wyoming, Idaho, Indiana and North Carolina, with Utah ranking number one. 

The Hartford Courant reports more than 16,000 New Yorkers moved to Connecticut from March through June, according to U.S. Postal Service data. The state of New York has lost a net 1.4 million residents to other states since 2010, according to U.S. census data and migration patterns in IRS records.