Sheldon Adelson, Warren Buffett and Bill Gates on Immigration Reform
Although they may all come from different political spectrums, businessmen Sheldon Adelson, Chairman and Chief Executive of the Las Vegas Sands Corporation; Warren Buffett, Chairman and Chief Executive of Berkshire Hathaway; and Bill Gates, former Chairman and Chief Executive of Microsoft and Co-Chairman of the Bill & Melinda Gates Foundation have put their differences aside and have collaborated in an op-ed to press Congress to pass immigration reform.
In their article, they write:
The three of us vary in our politics and would differ also in our preferences about the details of an immigration reform bill. But we could without doubt come together to draft a bill acceptable to each of us. We hope that fact holds a lesson: You don’t have to agree on everything in order to cooperate on matters about which you are reasonably close to agreement. It’s time that this brand of thinking finds its way to Washington.
They go on to explain:
For the future, the United States should take all steps to ensure that every prospective immigrant follows all rules and that people breaking these rules, including any facilitators, are severely punished. No one wants a replay of the present mess.
We also believe that America’s self-interest should be reflected in our immigration policy. For example, the EB-5 “immigrant investor program,” created by Congress in 1990, was intended to allow a limited number of foreigners with financial resources or unique abilities to move to our country, bringing with them substantial and enduring purchasing power. Reports of fraud have surfaced with this program, and we believe it should be reformed to prevent abuse but also expanded to become more effective. People willing to invest in America and create jobs deserve the opportunity to do so.
Their citizenship could be provisional — dependent, for example, on their making investments of a certain size in new businesses or homes. Expanded investments of that kind would help us jolt the demand side of our economy. These immigrants would impose minimal social costs on the United States, compared with the resources they would contribute. New citizens like these would make hefty deposits in our economy, not withdrawals.
What are you ideas on what Congress should do to solve our broken immigration system?