Here's Why Here's Why Immigration Policy Matters So Much For The US Economy
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Jan 17, 2025 
Derek Wallbank, a Senior Editor at Bloomberg, shares insights on the crucial role immigrants play in the U.S. economy. He discusses the misleading narrative that immigrants drive down wages and the potential consequences of a massive deportation plan on job growth and inflation. Wallbank also contrasts illegal and legal immigration, shedding light on the mixed opinions regarding skilled labor within Republican circles. Finally, he touches on how immigration policies impact economies globally, sharing lessons from countries like Canada and Australia.
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Immigrant Impact
- Immigrants significantly impact the U.S. economy, comprising one-fifth of the workforce.
- They lead major companies like Microsoft, NVIDIA, and Tesla, contributing substantially to economic growth.
Illegal Immigration Impact
- Illegal immigration's economic effects are debated, with some arguing it allows Americans to take jobs others are taking.
- However, replacing a large number of undocumented workers immediately is logistically challenging.
Business Perspectives on Immigration
- Businesses generally favor a larger immigrant labor pool, with some supporting H-1B visas for highly skilled workers.
- However, opposing views within Republican circles call for reducing these visas, highlighting a policy divide.