In some states, Hispanics account for a large percentage of spending power and tax revenues overall. In both Texas and California, Hispanic households had more than $125 billion in after-tax income in 2015, accounting for more than one of every five dollars available to spend in each state that year. In Nevada, a state with a rapidly growing Hispanic population, their earnings after taxes accounted for more than one-sixth of the spending power in the state. In Arizona and Florida, Hispanics contributed almost one out of every six dollars in total tax revenues in 2015.
Hispanic Americans who only recently gained eligibility to vote could be a big factor in the 2020 election. Between 2015 and 2020, a projected 5.7 million Hispanics will gain eligibility to vote for the first time, most by turning 18 and aging into the electorate. In six states carried by Republicans in 2016, including Arizona, Pennsylvania, and Wisconsin, the estimated population of newly eligible Hispanic voters will exceed Donald Trump’s 2016 margin of victory. In Michigan, a state Trump carried by 10,704 votes, almost 46,300 Hispanic Americans will gain eligibility by 2020.