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An English Perspective on US Immigration and Economy

Secure Borders and Economic Growth

Now that the US border is secured, President Trump and Congress ought to turn their attention to the matter of bolstering legal immigration. This newfound stability offers a splendid opportunity for creating new laws to strengthen the US economy and workforce. A recent report by the right-leaning group, Unleash Prosperity, highlights the value of such a move.

The Recommendations

The report proposes expanding the overall quota for annual immigrant entries. It also suggests broadening visas for high-tech foreign workers through the H-1B visa scheme. Furthermore, there’s a call to extend visas for seasonal work, addressing demographic changes in the US that demand an invigorated workforce.

Supporting the Aging Workforce

Indeed, with Baby Boomers retiring and fewer young Americans entering the workforce, new legislation is essential. Immigrants are seen to contribute significantly, with the net growth of the US labour force relying heavily on immigrant workers from 2020 to 2040.

Accomplishments and Foundational Contributions

Did you know nearly half of Fortune 500 companies were founded by immigrants or their progeny? Marvelously, three of the “Magnificent Seven” tech giants have leaders born abroad. Elon Musk (Tesla, X, SpaceX), Sundar Pichai (Alphabet), and Jensen Huang (NVIDIA) exemplify this.

Economic Benefits and Historical Context

The US has enjoyed consistent economic growth, faster than Western Europe and Canada. This can be attributed to the dynamic influx of immigrants. Historically, the ability of America to absorb and benefit from immigrants is noteworthy. Notably, since 1994, the proportion of foreign-born workers in the workforce nearly doubled, reaching 18.6% in 2023.

Addressing Population Concerns

Interestingly, US birth rates are in decline, with women now averaging fewer than two children each. Thus, immigration remains vital to maintaining the population and supporting economic ambitions.

Study Co-Authors and Their Aim

Co-authored by Richard Vedder, Matthew Denhart, and Stephen Moore, the study emerged amidst Trump’s crackdown on illegal immigration. Moore, recognising the benefits, hailed the administration’s steps and the need for a legal route to immigration.

A Community of Support

Unleash Prosperity’s establishment by luminaries such as Steve Forbes and economist Arthur Laffer underscores its influence. Funding has come from prestigious sources, including the late Fred Smith, founder of FedEx. This collective believes a secure border paves the way for proper, legal immigration endeavours.

A Path Forward

To wrap up, the aspiration to grow the economy by 3% annually is ambitious. However, without welcoming an ample number of immigrants, it may well remain an elusive target. Thus, this report champions a structured and welcoming approach to immigration.