During the visit, Palomarez highlighted the flaws of our country’s current immigration system, calling it outdated and broken, and warned on how it jeopardizes business. The current system, he cited, discourages foreign entrepreneurs from investing in our economy, disallows hard workers from becoming fully integrated tax payers, and prohibits the world’s brightest minds from incorporating their innovative ideas in our nation’s companies.
The event, hosted by the Vice President at the National Observatory as part of the White House’s Cinco de Mayo celebration, had several other Hispanic leaders in attendance, including New Mexico Governor Susana Martinez, former New Mexico Governor Bill Richardson, Voto Latino Executive Director Maria Teresa Kumar and NCLR President & CEO Janet Murguia, among others.
The meeting was followed by a joint letter spearheaded by the U.S Hispanic Chamber of Commerce, co-signed by 150 local Hispanic chambers of commerce urging Congressional members to support the Senate’s Gang of Eight immigration framework. The joint effort highlights how immigration policy directly impacts the competitiveness of America’s workforce, and how our country’s business community is uniting in support of comprehensive immigration reform.
The USHCC views immigration reform as an economic imperative. Immigrant-owned businesses generate an estimated $775 billion in annual revenue and employ 1 out of every 10 American workers. In fact, 40% of the Fortune 500 companies were started by immigrants or the child of an immigrant, including Google, AT&T, Ebay, Intel, Yahoo and Kohl’s.
At the USHCC, we believe the immigrant entrepreneur should be acknowledged and celebrated.