Act Proposes Increase in Visas to Help Unemployment
Here’s a unique approach to lowering the unemployment rate: give more foreign entrepreneurs visas. The Kauffman Foundation, a non-partisan research organization, made this suggestion in their proposal, the Startup Act.
For years opponents of immigration reform have argued that increased immigration will lower the number of jobs available to American citizens. However, supporters of the Startup Act and similar plans claim that foreign entrepreneurs will start businesses and therefore create jobs for Americans.
Strong statistics backup the Startup Act. For instance between 1995 and 2005 foreign entrepreneurs founded over 25% of engineering and technology companies.
The Act is backed by a handful of Republican and Democrats in Congress. Senator John Kerry supports the bill and warns against, “Losing out on these competitive, job creating businesses.”
For hundreds of years innovators from around the world have come to America to make their dreams a reality. The businesses started by these once foreign entrepreneurs made America’s economy a global force. Are more foreign entrepreneurs what the US economy needs to recover and thrive?