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View Full Version : Obama Proposes Immigration for Entrepreneurs


Porpoise101
August 30th, 2016, 03:17 PM
"Foreign entrepreneurs building new companies in the United States could soon gain a new immigration option that would grant them temporary entry for up to five years, under a rule proposed on Friday by the Department of Homeland Security.

The proposal, which does not require congressional approval, would allow immigration officials to admit entrepreneurs case by case. To qualify, an applicant must have an “active and central role,” and a significant ownership stake, in an American company founded in the last three years.

...

The main immigration pathway for foreign workers with specialized skills, the H-1B visa program, has been plagued by controversy and abuses, and labor groups generally oppose efforts to expand it. But past proposals to create pathways for entrepreneurs have drawn fairly little criticism, in part because the suggested programs are typically small and targeted.

The Department of Homeland Security’s 155-page proposal will be open for public comment for 45 days. After that, the department can move forward with a final rule, which could take effect as soon as next year."
- New York Times Story Here (http://www.nytimes.com/2016/08/27/business/entrepreneur-immigration.html?_r=0)

I think that this is a good thing. It will import more wealthy individuals willing to build enterprises in the country. This is mostly relevant to Silicon Valley, but it could have far reaching effects elsewhere. If you look around, many prominent CEOs, executives, and investors of the tech industry are foreign-born and they have created many decent jobs for Americans. This rule could expand that potential.

Paraxiom
August 31st, 2016, 11:44 AM
I'm not against the move, I've no strong feelings either way anyway, it sounds fine.

PlasmaHam
August 31st, 2016, 09:35 PM
No real opinion on it, but I don't think the president should have the power to do such without Congressional approval.

Porpoise101
September 1st, 2016, 03:29 PM
No real opinion on it, but I don't think the president should have the power to do such without Congressional approval.
Well they did it after finding a legal loophole allowing him to do so.