A new study from the Business Roundtable finds the U.S. is far behind in the race for global talent.
The Business Roundtable, an association of chief executive officers of leading U.S. companies working to promote public policy around issues affecting the U.S. economy, found that the United States’ immigration policies are holding back economic progress. The current employment-based system does not support the goal of attracting and retaining the global talent required for the United States measure up against other globally competitive economies.
The study, based on a comprehensive examination of 10 advanced economies, aimed to identify and evaluate the best immigration policies for promoting economic growth. It found that the United States ranked 9th out of 10 competitor countries. America’s near-bottom ranking among major advanced economies is due primarily to U.S. laws and regulations that impose unrealistic numerical limits and excessive bureaucratic rules on hiring workers that the country’s economy needs, according to the Business Roundtable.
The report makes several key policy recommendations, including increasing the number of H-1B visas and exempting from the annual cap H-1B workers who have degrees in needed fields from U.S. universities. It also recommends allowing individuals with advanced STEM degrees from U.S. universities to immediately qualify for a green card to work and live in the United States.
