Bipartisan group of Illinois business heavyweights welcomes introduction of bipartisan Senate immigration legislation, calls for swift movement in Congress
“Our state, our economy and our communities have waited too long for common sense solutions and an immigration system that rebuilds the economy, provides the talent our businesses need, and allows the integration of immigrants as workers, consumers, entrepreneurs and citizens.”
Chicago, Illinois — The Illinois Business Immigration Coalition (IBIC) welcomes the progress represented by the Senate bipartisan Gang of Eight’s release of principles for an immigration reform bill.
IBIC is a growing and diverse group of businesses and business associations promoting sensible, common sense immigration reform to benefit the people and economy of our state.
John Rowe, Chairman Emeritus of Exelon Corporation and Co-Chair of IBIC, stated:
We are pleased to see movement on this critical issue. As a Republican myself, I have long been asking myself ‘Since when is it conservative to prevent people from working and paying taxes?’
Illinois’ and our nation’s business community has waited for too long for a system that facilitates immigrants’ contributions at the high and low ends of the skill spectrum rather than placing obstacles in their way. We look forward to reviewing the content of the new Senate bill and urge the House to follow suit with progress toward legislation that moves us toward an immigration system that rebuilds the economy, meets business needs, and provides a path to citizenship.”
IBIC was launched on April 1, 2013 at an event Co-Hosted by Chicago Mayor Rahm Emanuel and Caterpillar Inc. Chairman and CEO Doug Oberhelman. Throughout the upcoming legislative process IBIC members will actively promote immigration reform that will provide Illinois companies with both the high-skilled and low-skilled talent that they need, and promote the integration of immigrants into our economy as consumers, workers, entrepreneurs and citizens.
Research from both ends of the political spectrum show that numbers speak for themselves. According to a study released by the Immigration Policy Center and Center for American Progress, common sense immigration reform would increase U.S. Gross Domestic Product (GDB) by at least 0.84 percent. This would translate into at least a $1.5 trillion cumulative increase in GDP over 10 years, which includes approximately $1.2 trillion in consumption and $256 billion in investment.The higher earning power of newly legalized workers would mean increased tax revenues of $4.5 billion to $5.4 billion in the first three years. Higher personal income would also generate increased consumer spending—enough to support 750,000 to 900,000 jobs in the United States. Experience shows that legalized workers open bank accounts, buy homes, and start businesses, further stimulating the U.S. economy.
The American Action Forum, a conservative think thank, has stated that “in the absence of immigration, the population and overall economy will decline as a result of low U.S. birth rates. A benchmark immigration reform would raise the pace of economic growth by nearly a percentage point over the near term, raise GDP per capita by over $1,500 and reduce the cumulative federal deficit by over $2.5 trillion.”
Other Co-Chairs of the IBIC Steering Committee include Dave Bender, Executive Director, American Council of Engineering Companies of Illinois; Raul Raymundo, CEO, The Resurrection Project; and Samuel C. Scott III, Former Chief Executive Officer, Corn Products International, Inc.; Chairman, Chicago Sister Cities International Program.
IBIC includes business associations such as the Chicagoland Chamber of Commerce, the Illinois Hispanic Chamber of Commerce, the Illinois Hospital Association, the Illinois Hotel & Lodging Association, Illinois Manufacturers’ Association, the Illinois Restaurant Association, the Illinois Science & Technology Coalition, the Illinois Technology Association, and the Metropolitan Chicago Healthcare Council (MCHC); corporate leaders including Greg Brown, Chairman and CEO of Motorola Solutions, Norm Bobins of Norman Bobins Consulting LLC, Martin Cabrera of Cabrera Capital Markets, and Doug Oberhelman, Chairman & CEO of Caterpillar Inc.; and university leaders including Chris Kennedy (Chairman of the Board of Trustees) and Robert Easter (President) of the University of Illinois, Father Dennis Holtschneider, President of DePaul University; Donna Carroll, President of Dominican University, John Anderson (President) and Alan Cramb (Provost) of IIT; and Ellen Rudnick, Executive Director of the Michael P. Polsky Center for Entrepreneurship at The University of Chicago Booth School of Business.
View a full list of the IBIC Steering Committee Members.
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