Alice Munnell, director of the Center for Retirement Research at Boston College, recently wrote an article supporting immigration reform. According to her article at Marketwatch.com, if the current legislative bill were passed, it would substantially reduce Social Security costs as a result of increased taxable earnings.
Her comments are based on an analysis provided by the Social Security Administration, which estimated that the bill would extend the solvency of the program by an additional two years (to 2035).
[CLICK HERE to read the article, “Immigration Reform Will Help Social Security,” at Marketwatch.com, Aug. 7, 2013.]
[CLICK HERE to read Social Security’s findings in a letter report at SSA.gov, June 28, 2013.]
Bolstering the Social Security Trust Fund is just one of the issues integral to the ongoing debate about border control. The Senate passed its version of the bill in June, which would make the biggest changes to the immigration system in more than 25 years. Among the changes is to offer citizenship to millions of immigrants now in the U.S. illegally and to establish a mandate for extra security along the border of Mexico.
[CLICK HERE to read the report, “Senate OK’s Sweeping Immigration Overhaul,” at Marketwatch.com, June 27, 2013.]
The technology industry has strongly supported the legislation, citing a shortage of highly-skilled workers. Facebook CEO Mark Zuckerberg recently spoke in favor of the immigration bill, advocating for the tech industry’s needs for more work visas and a better green card system.
However, a recent study revealed that some of today’s perceptions of available tech job candidates are flawed. Interestingly, there appears to be a shortage of qualified workers for lower level, computer systems analyst positions, but for higher-skilled positions such as computer programmers, there are more than enough potential candidates in the United States.
[CLICK HERE to read the article, “Mark Zuckerberg: Immigration stakes high for tech, undocumented immigrants,” at Politico.com, Aug. 5, 2013.]
[CLICK HERE to read the article, “Silicon Valley Fights for Immigration Talent,” at Technology Review, July 26, 2013.]
[CLICK HERE to read the article, “Big Data Analysis Adds to Guest Worker Debate,” at The New York Times, July 23, 2013.]
Opponents of the bill call for a greater need for border enforcement and a defined path to work and citizenship rather than blanket amnesty, including a probationary period with specific requirements before illegal aliens can apply for a legal work permit. In an interview on CBS’s Face the Nation, Rep. Paul Ryan (R-Wisc.) argued that, “Then and only then can that person get a legal work permit, no special path way. And if a person in this situation wants to get in the line to get a green card, like any other immigrant, only at the back of the line, because we need to be fair to that legal immigrant who did everything right in the first place.”
Furthermore, the U.S. department that represents immigration agents sent a letter to Congress to report that the agency is ill-prepared to handle the tremendous number of visa applications that could result from passage of the bill.
[CLICK HERE to read the article, “‘Borders First’ a Dividing Line in Immigration Debate,” at Pew Research, June 23, 2013.]
[CLICK HERE to read a transcript of the Ryan Face the Nation interview at CBS, Aug. 4, 2013.]
[CLICK HERE to read the article, “USCIS Union Criticizes GOP DREAM Act,” at NumbersUSA.com, Aug. 1, 2013.]
Much like other economic events, the immigration bill could potentially impact your personal economics. If you’d like to discuss your personal needs, please give us a call.
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Source: Woods Blog Old