May 5, 2009

Immigration Reform. Elimination of Immigrant Visa Backlog.

There is no debate that a comprehensive immigration reform is long over due. We must make adjustments and modernize our immigration legal system to remain competitive in the 21st century. AILA yesterday published a Talking Point calling for the elimination of the employment based immigrant visa backlog. The argument they made is clear and concise. We can not attract the best talent and stay competitive, if it takes up to seven years to issue a green card.

In today’s employment immigration system, a green card application is filed while the candidate is in his twenties to receive approval in his thirties. By the nature of the process, we end up stifling entrepreneurial spirit rather than encouraging it. The foreign national is restricted in undertaking an intellectual or financial chance due to the uncertainly and the restrictions imposed by the pending application.

Most will agree that creative and productive talents are impatient by definition. The most talented and capable individuals will not wait a seven year period for a green card to come through. Consider the case of Sanjay G. Mavinkurve, featured in NY Times. Sanjay, an Indian national, is one of the key engineers that developed Facebook. Sanjay moved to Canada because the lengthy immigration process in the U.S. prevented him from joining his wife while the application is pending. Sanjay’s story truly demonstrates the failure of our immigration system. The fact is there are many individuals who have left the U.S. for similar reasons as Sanjay.

While producing more homegrown talent is a priority, the truth is we must remain most hospitable to talents regardless of their origin. To that end, we must eliminate the immigrant visa backlog. AILA appropriately advocates that we should recapture all family based and employment based green cards not used in prior years, exempt family members form the current numerical limitation imposed on employment immigrant visas, and provide for appropriate exemptions for U.S. graduates in the field of science, engineering and mathematics. Finally, it calls for implementing a market based cap system that more appropriately addresses our need to remain more competitive.

April 11, 2009

Comprehensive Immigration Reform is good for the economy

Before the debate on Comprehensive Immigration Reform begins, the White House issued a statement that they are not looking at passing reform this year but perhaps next year. While Comprehensive Immigration Reform has always been tied to national security concerns, there is a new and compelling theory linking Comprehensive Immigration Reform to our economic recovery. An opinion published by the Wall Street Journal Immigrants Can Help Fix the Housing Bubble, is very insightful and logical. It is written by Gary Shilling who is an economic consultant, and Richard LeFrak, a real estate developer. The article suggests that we should give legalization to immigrants who can afford buying homes. The excess inventory of homes currently at 2.4 million is a contributing factor to the current recession and a direct cause of a possible lingering recession until the excess inventory is depleted. Unless demand for homes is created or increased, it is anticipated that homeowners will be dealing with an additional average decrease in home value of 14% in addition to the average decline of 27% experienced since 2006. This may very well put near half the homeowners in the US in possible negative equity. Unless this trend is reversed, we are looking at more difficult times ahead. Immigrants or legalization can certainly provide the answer.

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April 9, 2009

Comprehensive Immigration Reform or Protectionist Immigration Laws ?

It is difficult not to join in on this debate…This month the administration would like to lunch the debate on Comprehensive Immigration Reform...Last month Congress enacted the Employ American Workers Act, (EAWA), which is part of the American Recovery and Reinvestment Act. Basically EAWA places restrictions on hiring H-1B workers by companies receiving funds from the Troubled Asset Relief Program (TARP). The debate, some say, which way are we heading?

Our history teaches us that restrictions on immigration have almost always accompanied our economic downturn. It is difficult to make a good faith argument advocating that there is a sound nexus between restrictions placed on the H-1B program on one hand and helping troubled companies recover on the other. Many express concern as to whether it is wise to place limitations on troubled companies from hiring the most talented to fill critical posts as they struggle to recover. As we begin debating the Comprehensive Immigration Reform, the bigger question, however, is whether EAWA is the beginning of a trend or simply an isolated legislation.

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