Arpaio Archives Frontera Fund News Trump Watch

Superstar Entrepreneurs Less Likely to Come to the USA Thanks to Trump’s Xenophobia

Fotosearch_k17548882
Carmen Cornejo
Written by Carmen Cornejo

For many years the Republican Party created the fame of being the party of business but when racists and anti-immigrants are in complete control and power, this pro-business mentality becomes nullified with policies that attack businesses at their core.

We saw that situation happening in Arizona when former State Senator Russell Pearce was working extra-time to mess-up with business owners taxing them with laws that punished them for employing undocumented immigrants. We also remember how Joe Arpaio terrorized not only undocumented immigrants but business owners with worksite raids, where he exercised a display of ready-for-the-cameras excessive force.

Russell Pearce and Arpaio were only preluding Trump.

A few months ago, the Trump administration announced its intention to end The International Entrepreneur Rule (IER) which is designed to allow talented foreign entrepreneurs to grow start-ups in the USA by making it possible to acquire visas.

IER is not a giveaway. The entrepreneurs need to demonstrate a “significant public benefit to the United States” with “substantial potential for job creation”.

The rule allows international entrepreneurs to come to the USA for up to five years to start a firm and are mandated to meet specific benchmarks.

Some of the requirements include raising a minimum of $500,000 in capital investment, generating at least that amount in annual revenue, or creating at least five full-time jobs to stay in the U.S.   Many of these requirements need to pass strict betting by DHS agents.

DHS is trying to pass the buck on ending IER by saying that is up to Congress to find a solution for global entrepreneurs. However, Congress has given already DHS the authority to grant parole and Visas to entrepreneurs.

It is calculated IER attracts between 2,400 and 2,900 entrepreneurs to the USA every day who can produce billions of dollars in private capital investment, creating many jobs along the way.

The National Venture Capital Association- The largest organization of venture capitalists in the USA- filed a lawsuit against DHS for delaying the processing of applications covered by the rule.

In spite of a favorable ruling in the courts, DHS not only has not approved new applications for entrepreneurs but threatens to disappear the program.

Want to hear another reason DHS wants to disappear the IER? It was President Obama’s administration who created the program before he left office.

This is another example of how xenophobia. racism and hate are equivalent to shooting ourselves right on the foot.