In this episode, we read through some source material behind the RAISE (Reforming American Immigration for Strong Employment) Act. Here is the advertisement of this bill on Congress.gov's official website. It says:
"As of August 17, 2017 text has not been received for S.1720 - A bill to amend the Immigration and Nationality Act to establish a skills-based immigration points system, to focus family-sponsored immigration on spouses and minor children, to eliminate the Diversity Visa Program, to set a limit on the number of refugees admitted annually to the United States, and for other purposes."
While there is not an official Congressional Research Service summary of the bill, we have Sophia Schultz on to read the impacts of the bill as forecasted by the Penn Wharton Budget Model. Its key points:
- The RAISE Act, a bill recently introduced by Senators Tom Cotton and David Perdue and endorsed by President Trump on Aug 2, 2017, would reduce legal immigration while increasing the portion of new legal immigrants that are highly skilled.
- By 2027, our analysis projects that RAISE will reduce GDP by 0.7 percent relative to current law, and reduce jobs by 1.3 million. By 2040, GDP will be about 2 percent lower and jobs will fall by 4.6 million.
- Despite changes to population size, jobs and GDP, there is very little change to per capita GDP, increasing slightly in the short run and then eventually falling.
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