A startup visa that allows immigrants to start businesses in America has the potential to create many needed American jobs and stimulate GDP growth.
That, according to the Kauffman Foundation's Dane Stangler and Jason Wiens in an article for The Hill's Congress Blog, could create up to 1.6 million jobs and boost the economy by up to 1.5 percent.
Citing research that shows immigrants have been twice as likely to start companies as native-born Americans, Stangler, research and policy vice president, and Wiens, policy director, point to the economic wisdom of a startup visa as a means for growth.
Read an excerpt from the post below.
DC Open Secret: Immigration's Good for the Economy
The Commerce Department's recent announcement that the United States economy actually shrank by 3 percent in the first quarter of this was at first quite startling.
Economic analysts then rushed in to explain the sharp drop as a function of seasonal factors and a wider trade deficit. In other words, it's a blip and GDP growth the rest of this year should be much stronger.
This view, supported by better-than-expected job creation in June, may be correct. But while the numbers are getting better, Americans still perceive the state of the economy to be weak.
Read the rest of the post on The Hill to find out more.