According to Emily Badger of Washington Post, employment based immigration reform could grow the US economy and shrink the deficit. The reform would ease the country skilled-gap, drive innovation, tax receipts, consumer demand, and job growth for US workers. A Standard and Poor’s report has recently quantified the economic benefit of high-skilled immigration: it could add 3.2% to real GDP in the US and could cut $150 billion from the deficit over the next 10 years.
S&P found a significant gap between the business needs for high-skilled workers and the education and training of the US work force. Importing foreign workers would benefit US as skilled immigrants create jobs by starting new businesses, pay for and offset an aging US population, and have a positive impact on the consumer demand. Also, retaining STEM foreign students educated in the US should also be a key priority for the immigration system. In 2013, foreign-born graduates in the US account for 70% of electrical engineers, 63% of computer scientists and 60% of industrial engineers. Without creating an easier pathway for retaining foreign students, U.S. is losing top skilled professionals who could be extremely valuable to American companies.
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