Immigration,Reform,2013,Ways,W law Immigration Reform 2013: 5 Ways It Will Affect Our Economy

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The last time a comprehensive immigration bill was signed into law by Ronald Reagan in 1986, an estimated 3 to 5 million illegal immigrants were living in the United States. Today, there are 11 million undocumented immigrants in the U.S. The Immigration Reform Bill would allow most of these immigrants to apply for citizenship within 13 years. They would be required to learn English, pass background checks, and pay fines and any back taxes owed. Then, they would be allowed to apply for Permanent Resident Status. Here are five ways the Immigration Reform Bill will affect the economy. Economic Growth In May 2013, more than 100 economists signed a letter from the American Action Forum saying that immigration reform will help grow the economy. A study conducted by the Forum found that immigration reform would reduce the federal deficit by $2.5 trillion over the next ten years. Also, according to an analysis done by the Social Security Administration, immigration reform would help sustain social security by adding more workers to contribute to its trust fund. It is estimated that immigration reform would boost the GDP by $1.5 trillion over ten years. Furthermore, according to the Partnership for a New American Economy, immigrants in the United States are more than twice as likely to start a business as non-immigrants. Increased Wages . . . For Most While immigration reform would cause wages to go up for most Americans, it could also cause wages to go down for some. A 2007 study conducted by Harvard economists George Borjas and Lawrence Katz found that immigration caused wages to go down for high school dropouts and even college graduates. However, a different study in 2010 found that immigration has boosted overall native-born wages by 0.6 percent. While there is much academic debate on the positive and negative effects of immigration on wages, Demetrios Papademetriou, president and co-founder of the Migration Policy Institute, notes that any negative impact immigration has on wages is very small. More Competition For Jobs 11 million immigrants joining the legal workforce will undoubtedly create more competition for jobs. A study conducted by the Pew Hispanic Center reported that in 2009, foreign-born workers gained 650,000 jobs, while native-born workers lost 1.2 million. A study released by the Center for American Progress, however, found that granting legal status to immigrants might actually create jobs, as it would allow immigrants to be more productive and earn higher wages. The study reasons that when legal workers earn higher wages and spend money on things like housing, clothing and food, there will be an increased demand for goods and services, and the economy will grow as a result. Higher Tax Revenues As the number of legal wage earners increase and spending increases, tax incomes will increase as well. In 2010, it was estimated that undocumented Latino employees lost out on $2.2 billion in earnings. As an outcome, the federal government missed out on out on $1.4 billion in taxes. The Congressional Budget plan Workplace and Joint Committee on Taxation also found that had the Migration Reform Act of 2006 been signed into law, it would have created an estimated $66 billion in new profits in between 2007 and 2016. Education is Key The American economy is no longer able to quickly take in uneducated employees, as it finished with so numerous European immigrants at the beginning of the twentieth century. In order to be successful in today's economy, employees have to be well educated. Since a lot of low-skilled, undocumented immigrants fill jobs that pay lower salaries, they struggle to rise above poverty. A research conducted by UCLA sociologists found that while education amongst second generation Mexican Americans made remarkable gains over that of their immigrant parents, the education among 3rd and 4th generations fell short to do so, and in fact fell behind sometimes. Lots of third and fourth generation Mexican Americans don't graduate from college, and the education levels of immigrant kids still delay behind the national average. In today's economy, it is tough for less-educated workers to take in. Migration reform that puts even more focus on higher-skilled immigrants will just help the economy in the end. Generally, the Migration Reform Expense will have a positive impact on the economy, and could even aptly be called the "Economy Reform Bill." As New York Times reporter Ross Douthat points out, it's fantastic that so lots of individuals from worldwide still believe in the American dream. But it is essential that "while we choose the number of of them to welcome and how quick, that we can still deliver on it.". Article Tags: Immigration Reform Would, Immigration Reform, Reform Bill, Study Conducted, Reform Would, Migration Reform