Asylum economics

31 January 2013 By Daniel Indiviglio

Congress is edging toward letting illegal immigrants stay, while promising greater vigilance. High-tech companies will like measures to retain more foreign-born graduates, while small firms may struggle with new red tape. Fixes are needed, but economically these are a mixed bag.

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Eight U.S. senators from both parties on Jan. 28 released a framework for immigration reform. In a speech in Las Vegas on Jan. 29, President Barack Obama focused on the need to fix the system to provide better opportunities for the nation’s 11 million undocumented immigrants.
The senators’ plan has four basic pillars. The first would create a path to citizenship for unauthorized immigrants living in the United States, balanced with making borders more secure and surveillance more robust. The second seeks to retain talented would-be immigrants who attend American universities. The third would create a system for companies to verify employees’ citizenship status, and the fourth seeks to tie future worker admittance rates to economic need.

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