McCarthy, the Minority Leader in The House of Representatives, Stands on The “GDP”

house minority leader mccarthy standing on house "gdp"

McCarthy’s commitment as opposed to the opinions of prominent economists and business organizations, not to mention the American people. Legalizing undocumented workers would assist to unleash a $1.7 trillion economic boom in the United States, improving incomes for all Americans. Meanwhile, Trump and Stephen Miller’s unilateral orders to reduce legal immigration levels are leading to labor shortages and inflation. According to NBC News, net immigration to the United States was one-quarter of what it was in 2016 and is emerging as an often neglected aspect of today’s economic woes.

More immigrant employees and a doubling of legal immigration, according to the US Chamber of Commerce CEO, would help address labor shortages and inflation. Today, more experts are chiming in to back up the claim that immigration reform would boost the economy:

Labor economists Giovanni Peri (a pioneer in analyzing the economic benefits of immigration) and Reem Zaiour write in MarketWatch on “U.S. labor shortages due to low immigration in the past two years,” noting:

house minority leader mccarthy standing on house "gdp"

“The shortage in immigration over the last two years has had immediate negative effects for filling employment, as well as harming the US economy’s long-term prospects.” The decline in international students and high-skilled immigrants is particularly alarming in terms of productivity, creativity, and entrepreneurship in the long run.

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The decline in the number of low-skilled immigrants may be contributing to current labor shortages in several industries where they were formerly well-represented. In light of this, the government should make a concerted effort this year to streamline the processing of nonimmigrant and immigrant visas to avoid additional reductions in the number of immigrants and the severe economic implications that would follow.”

Immigration attorney and former US diplomat Christopher Richardson write an op-ed in the Chicago Tribune titled “Biden must lead on legal immigration to overcome our labor crisis,” in which he states:

“Through over 400 adjustments, the Trump administration has reduced immigration to the United States by nearly half. Meanwhile, COVID-19 has claimed the lives of 835,000 Americans, many of whom are still working, and has driven millions of baby boomers to retire early. Meanwhile, the birthrate in the United States has dropped to its lowest level in history.

For all of Trump’s flaws, he and his team grasped the immigration levers better than any previous administration. Daily, Stephen Miller, Steve Bannon, and Trump fought tirelessly to keep legal immigrants out. Because of the magnitude and extent of our present labor shortage, Biden will need to devote the same amount of effort to reform the legal immigration system.

Biden must see that when it comes to immigration, waiting for Congress to accomplish what it hasn’t done in 20 years will not suffice for American employers, nor will it save our country from inflation, stagnant growth, and decline.”

According to Douglas Rivlin, America’s Voice’s Director of Communication

At a time when economists and business executives are urging more immigrants to help build the economy, handle labor shortages, and combat inflation, Kevin McCarthy and the Trumpified GOP are taking the opposite approach. McCarthy has chosen retreat, defeat, and nativism over modernizing our immigration system to help stimulate the usual can-do optimism that fuels the American economy. Inflaming the Republican base with hate and fear is more vital to the Republican project than boosting the economy.

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Kevin Mc Carthy Makes Dubious Assertions About the Build Back Better Bill During a Marathon Speech

house minority leader mccarthy standing on house "gdp"House Minority Leader Kevin McCarthy, R-Calif., delivered a marathon floor speech before the House passed the Build Back Better bill, criticizing the Democratic-backed bill as wasteful and damaging to the economy.

McCarthy spoke for more than eight hours starting Nov. 18 before the bill’s final vote. The House version, which may be altered in the Senate, would spend $1.75 trillion over ten years on sustainable energy initiatives, child care subsidies, extended child tax credits, paid family leaves, and hearing aids for Medicare beneficiaries, among other things. It would be partially funded by levying more taxes, particularly on the wealthy, and allowing the government to negotiate prescription pricing.

McCarthy claimed at one point in his speech, “Never before in American history has so much money been spent so quickly. Never before in American history have so many taxes been raised and so much debt been required to pay for such wasteful spending.”

It seemed improbable that a law that boosts taxes to unprecedented levels to fund its spending would also necessitate unprecedented borrowing. As a result, we decided to dig deeper into McCarthy’s evaluation.

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McCarthy was proven to be incorrect on all three points. (His office declined to comment on his remarks to PolitiFact.)

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