Immigrant workforce key to U.S. economic prosperity
This month, the Council of Economic Advisors (CEA), which advises President Biden, published their annual economic report. According to the report, the U.S. economy is struggling because of a slow-growing population, an aging national workforce, and decreasing participation in the workforce overall.
Boosting immigration into the U.S.is a remedy proposed by these advisors for the economic problems we are facing. There are several benefits to increasing the number of new immigrants into the United States:
- New immigrants are usually of working age, which means :
- they pay taxes without incurring the fiscal costs of youth and early education.
- they help boost per capita economic growth.
- New immigrants have fewer social ties, which means they are more mobile and can follow work wherever it is most needed.
- “The effect of newly arrived immigrants on the wages and employment of the domestic population are quantitatively very small, and that the fiscal effects of immigration are generally positive.”
“Immigration reform that provides a path to citizenship for the estimated 11 million undocumented individuals would help to increase the labor supply,” the report stated, citing the Migration Policy Institute.
This bodes well for immigration reform that better facilitates a path to citizenship and the streamlines the notoriously convoluted process. Through changes and reforms, the attorneys and staff at Beach-Oswald remain steadfast in our commitment to advocate for our clients through every step of this process.
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