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How Immigration Reform will Help the US Economy?

How Immigration Reform will Help the US Economy?

President Obama is looking to sign an immigration reform bill into law that would permit undocumented immigrants to apply for U.S. citizenship. He believes that immigration reform would benefit the local economies and the U.S. economy as a whole.

Immigrants create new jobs in the country. Unlike many believe, they do not take away the jobs from U.S. citizens. There are several open positions for low skilled workers in the U.S. and most of the workers in the construction, agricultural and food preparation industries are undocumented. If the undocumented immigrants are legalized, they would fill such open positions and start working legally. Immigrants also comprise 23 percent of the labor force in high tech manufacturing and technology industries and reports show that they are more highly educated than the Americans working in the same industries.

If the undocumented immigrants are legalized, the newly legalized immigrants would produce new consumer spending and help in creating between 750,000 and 900,000 new jobs in the U.S. They would also boost tax revenue. Immigrants pay more than $2000 in taxes than they will receive in benefits. This will boost the revenue for the U.S. government. According to Think Progress, if the undocumented immigrants are legalized, the federal government would accrue between $4.5 and $5.4 billion dollars in taxes, over the next three years.

Immigrants help strengthen international relationships. Most of the immigrants who come from Mexico are undocumented. Mexican immigrants offer new prospects for the U.S. to capitalize on the economic expansion of Mexico, through their link with their home country.

Immigrants who own small businesses contribute to the global marketplace. Immigrants are more likely to start new businesses in the U.S. than those born in the U.S. Small businesses that are owned by immigrants have employed more than 4.7 million people in 2007 and they have contributed more than $776 billion to the U.S. economy.

The DREAM Act if passed would create new jobs for the undocumented immigrants who were brought to the U.S. at a very young age. This act would put more than 2.1 million undocumented youth on a path to legal status. Likewise, the Senate immigration reform bill would permit the undocumented immigrants who meet certain requirements to apply for legal status and then for U.S. citizenship. Legal status would enable more immigrants to start businesses in the U.S. and create new jobs. This would benefit the country’s economy.

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