New York — As Congress and the Administration debate our immigration laws, 1,470 economists signed a letter to President Trump and Congressional Leadership affirming that immigration is good for the American economy. Organized by New American Economy and Douglas Holtz-Eakin of the American Action Forum, signatories include six Nobel Laureates and members of the Reagan, GHW Bush, Clinton, GW Bush, and Obama Administrations, as well as leading economists from across the country, including:
Vernon Smith, Nobel Laureate in Economic Sciences, 2002; Chapman University
Oliver Hart, Nobel Laureate in Economic Sciences, 2016; Harvard University
Alvin E. Roth, Nobel Laureate in Economic Sciences, 2012; Stanford University
Angus Deaton, Nobel Laureate in Economic Sciences, 2015; Princeton University
Lars Peter Hansen, Nobel Laureate in Economic Sciences, 2013; University of Chicago
Roger Myerson, Nobel Laureate in Economic Sciences, 2007; University of Chicago
Other signers include:
Douglas Holtz-Eakin, Former Director of the Congressional Budget Office, Council of Economic Advisers for President George H.W. Bush; American Action Forum
Alice Rivlin, Former OMB Director for President Clinton; Brookings Institution
Austan Goolsbee, Former Chairman, Council of Economic Advisers for President Obama; University of Chicago
George P. Shultz, Former Secretary of State for President Reagan; Hoover Institution; Stanford University
Glenn Hubbard, Former Chairman, Council of Economic Advisers for President George W. Bush; Columbia University
Harvey S. Rosen, Former Chairman, Council of Economic Advisers for President George W. Bush; Princeton University
Jason Furman, Former Chairman, Council of Economic Advisers for President Obama; Peterson Institute for International Economics
James C. Miller III, Former OMB Director for President Reagan
Laura Tyson, Former Chairwoman, Council of Economic Advisers for President Clinton; UC Berkeley
“The undersigned economists represent a broad swath of political and economic views,” the letter reads. “Among us are Republicans and Democrats alike. Some of us favor free markets while others have championed for a larger role for government in the economy. But on some issues there is near universal agreement. One such issue concerns the broad economic benefit that immigrants to this country bring.”
The letter goes on to state that:
- Immigration brings entrepreneurs who start new businesses that hire American workers.
- Immigration brings young workers who help offset the large-scale retirement of baby boomers.
- Immigration brings diverse skill sets that keep our workforce flexible, help companies grow, and increase the productivity of American workers.
- Immigrants are far more likely to work in innovative, job-creating fields such as science, technology, engineering, and math that create life-improving products.
Douglas Holtz-Eakin, President of the American Action Forum emphasizes: “this letter is a reminder that support for sound economic policy bridges partisan divides, and that well-crafted immigration policy can support the goals of more rapid productivity growth, economic growth, and middle-class prosperity.”
“Immigration is a shot in the arm for the U.S. economy,” said John Feinblatt, Chairman of New American Economy. “The data shows it, and nearly 1,500 economists know it – immigration means more talent, more jobs, and broad economic benefits for American workers and companies alike.”
Read the letter and see a list of the signatories here.