As this video from the White House explains, it all boils down to one thing – if, you have done your ‘MS in US’ and want to stay on in America afterwards, then the President is pretty convinced that you are good for the American economy. Foreign students in the fields of science, technology, engineering or maths, a large number of them Indians, form a highly skilled pool of talent that has the potential to bring multiple benefits to the American economy – provided they are allowed to live and work there. At the moment,however, according to President Obama the US economy is being robbed of those benefits by what he calls America’s “broken immigration system”. Here’s why Obama wants it fixed (to see the full coverage of President Obama’s speech announcing immigration reforms, see our previous blog ‘Obama Announces Executive Action on Immigrant Reform: Good News for Your ‘MS in US’ Plans’).
Fixing the broken immigration system will:
- make it easy for entrepreneurs to start new businesses, creating new jobs for American workers
- grow the economy and create jobs and cut the deficit
- boost GDP by 5% or 1.4 trillion dollars by 2033
The explanation of how that will happen goes like this:
- In 2010 70% of the foreign graduate (bachelor’s) students in American colleges and universities were studying science, technology, engineering or maths. The idea is that if they can stay and work in America where they were educated, they will contribute to developing the innovative technologies and processes that make the US economy more competitive and productive. This will also make it easier for entrepreneurs to set up businesses in the States.
- Having a highly skilled workforce and a consequently more productive economy will increase the rate of return for companies and businesses who invest in the United States and that will lead to more investment in the future.
- Ultimately, more entrepreneurs and highly skilled workers, higher economic productivity, plus increased investments in US would increase America’s real GDP by 1.4 trillion dollars by 2033
But there are other great benefits for Americans in fixing the broken immigration system:
- immigration reform will boost demand for goods and services, create more demand for labor and thus more jobs for American workers
- employers currently paying their employees under the table will have to pay the same taxes as everyone else – the increased inflow in taxes will reduce the US deficit by 850 billion dollars.
So, if you intend to do your ‘MS in US’ and plan to stay on in the States afterwards, it looks like the American President and the White House are all set to give you a warm welcome. Make the most of it!