The proposed immigration bill that is currently being backed by President Trump may result in a net loss of 4.6 million jobs across the U.S. and including Illinois, according to a recent study that was conducted by his alma mater. The researchers also found that the overall U.S. economy would shrink by 2 percent if the legislation passed and was enacted into law. The bill, called the RAISE Act, was proposed by Republican Senators Tom Cotton and David Perdue and would have legal immigration within 10 years, including business immigration. A Chicago immigration lawyer helps businesses with their immigration needs.
Impact of Fewer Foreign Workers
The Wharton School at the University of Pennsylvania released a report evaluating the impact of the RAISE Act. They found that the law would cause the loss of 4.2 million jobs while shrinking the U.S. economy. The researchers state that having fewer workers means that the economy simply can’t grow at the same rate. Starting in 2000, Baby Boomers have been retiring at a much quicker pace than the economy has been growing. In 2016, data shows that there were 27 million foreign workers in the U.S. The researchers state that the economy would be harmed in both the short- and long-term if the RAISE Act is passed.
What the RAISE Act Would Do
Many businesses rely on both highly skilled and low-skilled foreign workers to fill jobs. The employment-based immigration system would undergo an overhaul and be switched to a points-based system that would be highly dependent on English-language skills and higher education. Low-skilled workers would find it nearly impossible to immigrate to the U.S. under the proposed point system. The New American Economy reports that low-skilled immigrants have started millions of small businesses and have added greatly to the economy. Farms would also take a substantial hit because they rely on low-skilled foreign workers for their agricultural labor jobs.
Likelihood of Passage
While there are proponents of the law in Congress, it is unlikely that the bill will pass in its current form. Many members of Congress have large constituencies that rely on low-wage workers such as the agricultural and construction industries. Sen. John Cornyn says that the bill is simply a start to the conversation, indicating that it would likely not remain in its current form. A Chicago immigration lawyer may answer questions about business immigration and the RAISE Act.