The bipartisan Senate immigration bill will boost the economy by providing a path to citizenship for many of the 11 million undocumented workers in the country, said the members of a panel at the Milken Global Conference that included billionaire Rupert Murdoch and former Los Angeles Mayor Antonio Villaraigosa.
"We have to accept these people are here, welcome them," Murdoch said during a panel discussion on immigration. "I believe the Senate proposal will go through. It's not good enough, but it's better than nothing."
Murdoch owns a global media empire that include Fox News, the Wall Street Journal, Dow Jones and the New York Post. His views often set the tome for news coverage at those organizations, so his support of immigration reform could mean editorial content will at least not be opposed to reform.
"Gang of Eight" Democratic Senator Michael Bennett was also on the panel. "We have a cash economy that's not producing the type of economic growth we want," he said. "From an economic point of view, we are shooting ourselves in the foot."
The bill being considered by the Senate allows undocumented immigrants who cam to the United States before 2012 to apply for a green card. They must wait ten years, but during that time they may stay in the country legally, travel to their home countries freely, and work in the United States. They must learn English, pay back taxes and a fine of around $2000, as well as application fees.
After receiving a green card, they must wait another three years before being granted citizenship. Initially contentious, the bill eventually gained support from both the labor and business communities. Many studies have shown that legalizing undocumented immigrants will be a net benefit to the economy, as the influx of taxpayers and higher wages buoys local economies.
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