This article discussed the effects that Biden's potential immigration policies could have on the country in the future. Some of the policies that were listed were a transition to legal status for illegal immigrants and restoring immigration rates back to pre-trump levels. He would accomplish this through a 10-year transitional period to grant citizenship to current illegal immigrants and granting a lot more work permits. Some of the initial impacts would be an increase in population leading to an increase in GDP. However, since most of the immigrants bring little to no savings the capital stock relative to labor would increase by a smaller amount. With labor at a higher amount than capital, wages would initially be lower. The lower capital would also increase foreign investment and domestic saving. By 2050 they expect GDP and capital stock to increase by 1.7 relative to the baseline. They also project the debt held by the public to decrease by 1.6%. What I think is interesting is they project it out to 2050 but there will be a lot of presidents and changes between now and then. The end goal is good but will the initial impact be worth it for the possibility of the future returns. I think it will also be interesting to see what other policies and plans he has for immigration.
I believe a 4 year period of Biden as elected President would allow more foreigners to work towards coming inside the states. The states has always been about a free country with a huge amount of immigrants. It is safe to say that Americans along with the immigrants help to promote GDP in the country allowing an overall better economy. Even if other presidents change this policy later on, the impact of 4 years would have a lasting effect for years to come. Labor is also a huge factor that comes into play since a lot of the labor force in the states come from different countries. For instance, managers and workers in companies like Amazon, Facebook and Google are people who are naturally from China, India etc.
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