New data analysis by the American Immigration Council shows how immigrants are contributing billions of dollars to the U.S. economy, even as the Trump administration and Congress are pushing for a budget that includes unprecedented funding for mass detention and deportation.
The Council’s analysis, which draws from 2023 census data, shows the broad ways that immigrants are helping make the United States a more prosperous and thriving country: by building housing wealth, keeping social services like Social Security and Medicare solvent, and filling in as a much-needed labor force in sectors like STEM, healthcare, and agriculture. The data also helps shed light on how mass deportation and family separation could hurt families, communities, and industries across the country.
“Immigrants help increase wealth and prosperity for all Americans. And yet the White House and Congress are considering spending billions of dollars to expand ICE, so they can detain and deport people indiscriminately, even as they cut essential social services like Medicaid and food assistance,” said Nan Wu, director of research at the American Immigration Council. “Immigrants have paid up the hard-earned tax dollars that are now going to be used to punish all Americans through a wasteful and cruel mass deportation plan.”
Findings by American Immigration Council Include:
1.In 2023, immigrant (both legal and undocumented) households paid nearly $16.80 in every $100 tax dollars collected by federal, state, and local governments, funding a wide range of social services that benefit all Americans.
2.Immigrants inject trillions of dollars of housing wealth in the United States. The vast majority of immigrants are not dependent on state governments to guarantee them with housing; in reality, they are putting back vast sums of money into the housing market and revitalizing neighborhoods. In 2023, immigrant households paid over $167 billion in rent in the housing market, and held over $6.6 trillion in housing wealth.
3.Immigrants help ease key labor shortages, and are driving innovation and business creation. Almost 1 in 4 entrepreneurs in the country are immigrants. About 46 percent of the Fortune 500 companies were founded by immigrants or their children. Elsewhere, immigrants are helping ease the labor shortage in the healthcare industry, where nearly 16 percent of nurses and about 28 percent of health aides were immigrants in 2023.
The American Immigration Council works to strengthen America by shaping how America thinks about and acts towards immigrants and immigration and by working toward a more fair and just immigration system that opens its doors to those in need of protection and unleashes the energy and skills that immigrants bring.
In 2025, as global economic recovery progresses and new leadership is confirmed, businesses will embrace risk. Conditions in the UK and US are ripe for positive risk-taking, supported by growth in artificial intelligence.
Periods of uncertainty, like 2024 with its multiple elections, typically foster caution. Yet, avoiding risks during such times means missing opportunities. Economic recovery presents a chance for innovation and growth.
Down markets often nurture ambitious companies—Disney, IBM, AirBnB, and Uber rose from such conditions. Entrepreneurs should embrace risk, benefiting from reduced regulatory barriers and support for innovative ventures, especially in tech.
In the UK, the Labour Party’s Regulatory Innovation Office (RIO) aims to streamline processes for tech innovation. Alastair King’s strategy as Lord Mayor of London will promote risk-taking among city businesses.
In the US, President-elect Trump supports AI and cryptocurrency, with significant investments planned to create jobs and advance technology.
AI adoption is now mainstream, offering businesses tools to manage risk effectively. Klarna’s AI assistant exemplifies this by handling millions of customer service chats efficiently.
The technology boosts growth prospects and tech stocks, overcoming the fear of failure with regulatory safeguards. Governments will facilitate risk-taking and learning from failures, driving growth.
New and re-elected governments will strive to stabilize the economy, leveraging AI for transformative business opportunities. The potential is immense—even failed attempts offer valuable lessons for growth. (Adapted from a Report from the World Economic Forum)