Immigration Reform and the Economy
“Finally, if we are serious about economic growth, it is time to heed the call of business leaders, labor leaders, faith leaders, and law enforcement – and fix our broken immigration system. Republicans and Democrats in the Senate have acted. I know that members of both parties in the House want to do the same. Independent economists say immigration reform will grow our economy and shrink our deficits by almost $1 trillion in the next two decades. And for good reason: when people come here to fulfill their dreams – to study, invent, and contribute to our culture – they make our country a more attractive place for businesses to locate and create jobs for everyone. So let’s get immigration reform done this year.” – President Obama’s State of the Union Address
The President’s inclusion of immigration as a matter of economic necessity reinforces efforts over the last few years to redefine how we think about immigration reform. Immigrants create jobs as consumers and entrepreneurs and spend their wages in U.S. businesses—buying food, clothes, appliances, cars, etc. This builds our economy as businesses respond to the presence of these new workers and consumers by investing in new restaurants, stores, and production facilities. Also immigrants are 30 percent more likely than the native-born to start their own business. The end result is more jobs for more workers.