US Business wants the government to proceed with the immigration reform
Heads of major US companies urged the government to proceed of the immigration reform if it wants US to retain the pace of its economic growth during the next decade. The Business Roundtable, an influential group representing top chief executives, said that fixing America’s “broken immigration system” would unleash a powerful force that drives growth and bolsters the business sector.
There was a report that was issued which made the economic case for reform in the immigration system. The report coincided with the defeat of one of the most powerful Republican politicians Eric Cantor, who was seen as having pro-immigration attitudes. Cantor lost to the relatively unknown Dave Brat who positioned his campaign message against the legalization of illegal immigrants currently living in the United States which was supported by Cantor.
The fall of Cantor means that Republican Party will not support the “pathway to citizenship” program that is put forward by the President Barack Obama and that will provide the 12 million illegal immigrants that live in the USA with a way to legalize their presence in the country. Considering all these developments, the Business Roundtable, in its new report, called for “sensible” reform, saying there were compelling reasons to fix a system that includes an ongoing flood of illegal immigrants across the US-Mexico border.
The report concludes that the immigration reform if executed properly might increase the GDP by 4,8% over the next twenty year and at the same time, it can reduce the federal deficits by 1,2 trillion dollars. Immigration reform would expand the US labour force, thus directly boosting overall economic output, and increase tax revenues, helping brighten the country’s long-term fiscal outlook. It is a well-known fact that immigrants or children of immigrants founded 40% of the Fortune 500 companies.
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