{"id":135453,"date":"2026-06-12T13:12:42","date_gmt":"2026-06-12T17:12:42","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/texas-overtakes-california-as-americas-center-of-gravity-bessent-claims-in-closed-door-meeting-135453"},"modified":"2026-06-12T13:12:42","modified_gmt":"2026-06-12T17:12:42","slug":"texas-overtakes-california-as-americas-center-of-gravity-bessent-claims-in-closed-door-meeting","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/texas-overtakes-california-as-americas-center-of-gravity-bessent-claims-in-closed-door-meeting-135453","title":{"rendered":"Texas overtakes California as ‘America\u2019s center of gravity,’ Bessent claims in closed-door meeting"},"content":{"rendered":"
\n

FIRST ON FOX \u2014 <\/strong>Treasury Secretary Scott Bessent highlighted the stark difference he sees emerging between Texas and California as well as the \u2018tale of two states\u2019 cropping up between red and blue jurisdictions.<\/p>\n

“In California, I saw firsthand what years of failed governance looks like: a tax system that is hostile to ambition. A regulatory state that smothers enterprise. An economic climate indifferent to consequence,” he said during a closed-door meeting at the Petroleum Club of Houston on Friday in remarks shared exclusively with Fox News Digital.<\/p>\n

California has seen a number of high-profile defections in recent years, with many businesses and wealthy individuals citing the state\u2019s regulations and taxation regime as the reasons for their exit.\u00a0<\/p>\n

CORPORATE AMERICA IS ON THE MOVE, AND THESE RED STATES ARE CASHING IN<\/strong><\/a><\/p>\n

Chevron, Tesla<\/a>, Charles Schwab and Hewlett Packard Enterprise, to name a few, have all abandoned their California headquarters and shifted operations to Texas. IRS migration data also shows that the Golden State is hemorrhaging high-earning taxpayers, imperiling its finances.<\/p>\n

“Here in Texas, meanwhile, the contrast is so striking that it begins to feel like a tale of two states,” Bessent said.<\/p>\n

And it’s true that the Lone Star State’s business-friendly policies and lower taxes have attracted more American families and businesses to move from other states to Texas.\u00a0<\/p>\n

THE RED-STATE WINNERS IN THE CLIMB TO BECOME AMERICA\u2019S NEXT ECONOMIC POWERHOUSE<\/u><\/strong><\/a><\/p>\n

During the meeting on Friday, Bessent also highlighted the importance of energy policy as a cornerstone of President Donald Trump<\/a>\u2019s economic policies.<\/p>\n

“The AI race may be accelerated by the elegance of our code, but it will be won by the abundance of our energy,” he said. “More than strengthening an economy, energy abundance<\/a> also secures a nation. Economic security is national security.”<\/p>\n

RED STATES ARE THE ONES GOING GREEN AND WINNING THE CLEAN ENERGY RACE<\/strong><\/a><\/p>\n

He said that Texas is spearheading that growth.<\/p>\n

Texas has rapidly expanded its energy production<\/a> to meet booming demand, partially spurred by the construction of new data centers, recently surpassing California as the state with the most utility-scale solar capacity and hitting record-breaking levels for both crude oil production and low-carbon electricity generation.<\/p>\n

“Texas has become America\u2019s center of gravity because it is fostering the conditions for families and businesses to flourish,” Bessent went on.<\/p>\n

Data indicates that Texas has seen considerable success in attracting businesses and taxpayers to the state.\u00a0<\/p>\n

Of the 725 companies that relocated headquarters between 2018 and 2025, per a CBRE report, 230 of them moved to Houston, Dallas and Austin<\/a> alone. IRS migration data also shows that the Lone Star state saw a net increase of 56,000 tax filers between 2022 and 2023.<\/p>\n<\/div>\n

Source – https:\/\/www.foxnews.com\/politics\/texas-overtakes-california-americas-center-gravity-claims-treasury-sec-bessent <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

FIRST ON FOX \u2014 Treasury Secretary Scott Bessent highlighted the stark difference he sees emerging between Texas and California as well as the \u2018tale of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[16563],"tags":[],"stock_ticker":[],"class_list":["post-135453","post","type-post","status-publish","format-standard","hentry","category-market-news","entry"],"acf":[],"yoast_head":"\nTexas overtakes California as 'America\u2019s center of gravity,' Bessent claims in closed-door meeting - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/texas-overtakes-california-as-americas-center-of-gravity-bessent-claims-in-closed-door-meeting-135453\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Texas overtakes California as 'America\u2019s center of gravity,' Bessent claims in closed-door meeting - 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