Immigrants: A Vital Financial Engine for the United States
Shepelsky Law Group is a group of immigration attorneys committed to highlighting the economic benefits of immigration. Immigrants are what makes this country great. Immigrants contribute financially to the U.S. economy in ways that are both evident and not so obvious if one does not take a closer look.
Here is a list of ways that immigrants help power the U.S. economy—and why these advantages matter more than ever:
1. Tax Contributions & Fiscal Support
In 2023, immigrant households—both legal and undocumented—paid over $650 billion in federal, state, and local taxes. Undocumented immigrant households alone contributed nearly $90 billion in taxes and held close to $300 billion in spending power. These contributions help fund vital programs like Social Security and Medicare—even though many immigrants cannot access those benefits. Every immigrant who walks into our office doors wants to work, be productive, and pay taxes to ensure they qualify for legalization.
2. Expanding & Sustaining the Workforce
Immigrants filled nearly half of new civilian jobs over the past decade and are expected to account for almost all net workforce growth in the next 20 years. Many arrive in their prime working years, helping to offset the retirement of approximately 10,000 baby boomers each day. This ensures industries with worker shortages—like healthcare, agriculture, and construction—can keep operating and growing. Many American scientists and doctors, nurses and medical staff are first generation immigrants.
3. Fueling Innovation & Entrepreneurship
First-generation immigrants create about 25% of all new U.S. firms, and in some states, that number exceeds 40%. More than half of U.S. startups valued over $1 billion were founded by immigrants. They are also behind roughly 30% of patents in key industries, and over 40% of Fortune 500 companies were founded by immigrants or their children.
4. Housing, Consumer Spending & Market Stability
In 2023, immigrant households paid over $167 billion in rent and held more than $6.6 trillion in housing wealth. Beyond housing, immigrant households spend billions annually on goods and services, boosting local businesses and driving economic activity in their communities.
5. Protecting Economic Growth
When immigration is restricted, the labor supply shrinks, key sectors face shortages, and consumer prices rise. Projections show that such policies could cost American families over $2,000 more annually for everyday goods and services by 2028. On the other hand, strong immigration levels help stabilize labor markets, support economic expansion, and keep inflation in check.
Why It Matters
As immigration lawyers, we see daily how economic success and thriving communities are intertwined with immigrant contributions. From filling workforce gaps to fostering innovation, immigrants sustain not only fiscal health but also the dynamism of American society.
To legalize in the U.S., please call us and start with a consultation with one of our specialists!