“Immigrant-founded Fortune 500 companies employ 13 million people around the world and have combined revenue of $5.3 trillion. They are located in 68 metro areas across 33 states. ‘There is no category of immigrant of higher economic value than a foreign-born entrepreneur who wants to come to the United States and start their business here,’ says Dearie.
The contribution of immigrants to the U.S. economy is once again front and center. Democrats are demanding that legal rights for so-called dreamers who were brought to the U.S. illegally as children be part of the spending bill Congress must pass this week to keep the government open. The Startup Act, which among other things would create a special visa for entrepreneurs, was reintroduced in September by Senators Jerry Moran (R-KS) and Mark Warner (D-VA). And last Friday a U.S. district judge ruled that the Department of Homeland Security lacked cause to delay a program meant to admit foreign founders, which the Trump administration shelved in July.
Dearie says he hopes the study’s findings will influence policymakers on these and other issues. In conversations on Capitol Hill, he’s found members of Congress generally supportive of admitting more entrepreneurial immigrants, he says. But some Republicans demand that any increase in that number be offset by reductions in other categories of immigrants, which is a nonstarter with Democrats.”
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