New Immigration Bill Can Cure Many Ills of America

Undoubtedly certain flaws constrain the current US immigration policy. That is why President Obama called it ‘broken’ and fixing it. These flaws are linked to the ills that the state is facing. It may be bulging fiscal deficits, lag in job creation or losing competitiveness.  The new immigration bill seeks to rectify many pitfalls in the current immigration policy in the US.

Under the Obama immigration policy under consideration, a positive fiscal impact will be reducing the deficit by billions of dollars. The Senate bill will then slash the deficit by $200 billion in the next 10 years and $700 billion in the next decade. The deficit will be bridged when the spending shoots up and revenue spiralling. In a decade the government pay out of $262 billion on Medicaid will be levelled off by raising revenue to the tune of $459 billion.

Economic Gains

The new bill has a road map of 12 years of waiting. That means the legislation will constrain undocumented workers winning provisional status from receiving a broad swath of government benefits. That will also keep the costs down. It is worth noting that the broader economic impact would be significant when certain factors are considered broadly. They include increases in49daa49d94e031ec85510b37ba60d43b

  • Extra Labour force
  • Raising average wages
  • High capital investment
  • Productivity

So, the bill will catapult economic output by 3.4 percent in 2023 and 5.6 percent in 2033.

Immigration Lawyers Support

Meanwhile, the American Immigration Lawyers Association (AILA) hailed the Immigration Innovation Act of 2013 (I-Squared Act) moved by some Senators calling for critical reforms in high-skilled immigration sector. It notes that America badly needs innovation, creativity, and job growth for economic recovery. AILA Treasurer William Stock urged the President and Congress to enact a comprehensive bill to address the nation’s crying immigration needs. The I-Squared Act calls for expanding the number of green cards to meet economic demand without taking away green cards from other immigration categories.

 

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Posted on September 13, 2013, in Tax Immigrants and tagged , . Bookmark the permalink. Leave a comment.

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