IRS migration data show Texas gained $5B as NY, CA lost billions

The race to become America's next economic heavyweight may already have a frontrunner. The latest Internal Revenue Service (IRS) migration data show billions of dollars in taxpayer wealth flowing into Texas, while Census figures show the state's largest metropolitan areas continue to outpace much of the country in population growth, strengthening a decades-long shift in America's economic center of gravity. What's more, Texas isn't relying on a single boomtown. Dallas-Fort Worth added more residents than any metropolitan area in the country over the past year, while Houston, Austin and San Antonio also ranked among the nation's fastest-growing metros. That unusual breadth gives Texas multiple engines of economic growth, providing businesses with larger labor pools, diversified industries and a broader customer base than states anchored by a single dominant city.