Standard & Poor’s the financial services company based in the U.S., released surprising information regarding immigration. The topic is on the forefront of many people’s minds as the election in November approaches.
The notion that is widely held by many that immigration helps lower the credit rate of a city, because immigrants are less educated or receive lower income or both, was refuted by a Standard & Poor’s report. The report showed that cities in the U.S. with substantial immigration saw the credit rating in their city improve over the past decade.
“To say that immigration causes city governments to spend too much or jurisdictions to spend over budget is just a simplistic argument,” said senior director for S&P Horacio Aldrete-Sanchez. “There are costs to the governments, but there is an overall increase in activity in the economy and a stabilizing factor in the labor markets.”