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All of the demographic change is essentially growth in the Hispanic population. The Hispanic demo votes overwhelmingly conservative.

That is not correct. Depending on the survey you look at, only 30-38% of Latino voters voted for Trump in 2020[1][2].

This was a big shift toward Republicans in 2020, but it still didn't make Latinos majority Republican.

There are trends that work for and against both parties right now, too, so 2022 is anyone's guess, but they'll still likely vote majority Democrat.