The Fayetteville Chamber of Commerce writes to urge our elected officials to formalize the Deferred Action for Childhood Arrivals (DACA) Program into law. Citing the economic modeling analysis by REMI (Regional Economic Models, Inc.) released by Business Roundtable on immigration reform.
“We know that a balanced reform approach to immigration through the DREAM Act promises to grow Arkansas’ economy, create tens of thousands of new jobs and increase the incomes of Arkansas households.” Steve Clark, President and CEO of the Fayetteville Chamber of Commerce.
Under a “Balanced Reform” approach, the need for both security and economic growth are addressed. Within the plan lies the potential to expand the U.S. economy by an additional 3.9 percent over 10 years relative to the baseline status quo. Furthermore, according to the New American Economy national research brief, Arkansas’ DACA-eligible population accounts for $86 million in total income and $8.4 million in state and local tax revenue. Of the 7,273 Arkansans currently DACA-eligible, 93% of those who are at least 16 years old are employed.
An “Enforcement Only” approach to this problem risks the loss of 3% of our U.S. economy resulting in a decrease of $640 billion in GDP and nearly seven million jobs nationwide.
The Fayetteville Chamber of Commerce is committed to promoting the growth and expansion of a positive business climate to businesses across Northwest Arkansas. We hope our statewide elected officials will consider an approach that strengthens our local economy and protects the hard-workers of our state.