A group of nearly 100 institutional investors has issued a statement in support of comprehensive immigration reform, arguing this is necessary to foster economic stability and growth. The statement was in response to a recent flurry of executive orders made by US President Donald Trump that have prompted an increase in raids by the US Immigration and Customs Enforcement, as well as deportations and detentions of undocumented people. The group of investors said that this has created heightened anxiety and unpredictability that is negatively impacting markets. “Immigrants are an integral part of the rich and diverse tapestry that is America, and have contributed significantly to the workforce, and cultural and entrepreneurial spirit that defines this nation,” said New York City Comptroller Brad Lander. “Congress should act now, without delay, to pass the comprehensive and just immigration reform legislation needed to maintain a competitive edge in the global economy and ensure growth and sustainability across industries and sectors.” The unfair removal of immigrants will impact the US workforce, the statement said, noting that mass deportations would result in a GDP loss of between 1.2-7.4% below baseline by the end of 2028. “Immigrants help power our economy, and they are threaded throughout the workforces of nearly every sector and company either directly or via their supply chains,” said Lauren Compere, Head of Stewardship and Engagement at Boston Common Asset Management. “Comprehensive immigration reform will help, not harm, US businesses and the economy.”
