The Senate will review a bill to promote research and emerging technologies
The Senate has several bills on the table to review soon, and there is one in particular aimed at investing funds to promote and develop research, science and emerging technologies in the US in order to compete with China and keep the economy afloat in an increasingly competitive global stage.
On Wednesday, May 12, 2021, the Senate Commerce Committee approved this proposal called “Endless Frontiers Act”, which is a bipartisan bill initially introduced in 2020, and which still needs to be reviewed by other branches of Congress to officially become law.
However, despite the fact that this bill could boost certain sectors related to STEM fields (Science, Technology, Engineering and Mathematics) to some extent, several experts state that this proposal ignores the most influential and important factor to be able to beat China in the global market, and that is, without a doubt, immigration.
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Bill under Senate review will not work without immigrants
According to a recent report by Reason Magazine, the “Endless Frontiers Act” aims to stimulate innovation and technological and scientific entrepreneurship projects, but does not take into account the immigration reform necessary to attract talent from abroad and strengthen the US’ competitiveness with the help of foreign workforce.
The legislation does not propose to attract highly qualified foreigners or alternatives so that international students in STEM fields can stay in the US after completing their study periods to participate in innovative projects that promote technological progress and productivity growth.
Adding to that, in recent years, according to Reason Magazine, between 70% and 80% of American university graduates in electrical engineering and computer science have been highly qualified foreign students.
Having said that, it is important to emphasize the need to propose new strategies to advance the STEM fields and other areas related to technology through legal immigration programs. This will allow the US to welcome the brightest minds and the most innovative ideas so it can compete with China and maintain the world’s largest economy.
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This is not the first time that experts recommend immigration to compete with China
Aside from the analysis by Reason Magazine and the opinion of dozens of experts, in one of our most recent articles we talked about an exhaustive investigation carried out recently, which reveals that China could have the largest and strongest economy in the world at the end of the decade if the US does not act promptly to increase immigration levels by all possible means.
This is all the more important to note given the 2020 National Census results, which reveal that the US had the lowest population growth in 8 decades and, also by the end of the decade, there will be more citizens of retirement age than active workers. Therefore, the most viable and efficient solution is to attract talent from abroad and hit two targets with a single shot.
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