Nearly 1,500 Economists Say Immigration Strengthens American Economy in Letter to White House, Congress

Signatories include Six Nobel Laureates, Economists from Reagan, GHW Bush, Clinton, GW Bush, Obama Administrations

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 Douglas Holtz-Eakin of the American Action Forum  and the New American Economy; signatories include six Nobel Laureates, 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 U.
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
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

“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.

About New American Economy

New American Economy (NAE) brings together more than 500 Republican, Democratic and Independent mayors and business leaders who support immigration reforms that will help create jobs for Americans today. NAE members include mayors of more than 35 million people nationwide and business leaders of companies that generate more than $1.5 trillion and employ more than 4 million people across all sectors of the economy, from Agriculture to Aerospace, Hospitality to High Tech and Media to Manufacturing. Learn more at www.NewAmericanEconomy.org

About American Action Forum

AAF injects forward-thinking ideas into the public debate that will build a better economic future, promoting innovative, free-market solutions to create a smaller, smarter government. AAF provides data-driven insight to today’s defining domestic policy challenges, utilizes both in-house policy experts and a broad network of outside experts, and deploys modern communications approaches to express ideas and effectively engage policymakers, thought leaders, academics, media, and the general public.