A massive overhaul of the nation’s immigration law is good for this country and good for business, said Gary Loveman, CEO of Caesars Entertainment.
“I think it would enhance the demand for goods and services, for companies like mine and many others, and particularly for the housing market, which is essential to the restoration of growth in this country,” he told the “Nightly Business Report.”
The Senate voted 82-15 on Tuesday to begin debating a historic immigration bill just hours after President Barack Obama made a push for its passage.
“Smarter enforcement, a pathway to earn citizenship, improvements to our legal system—they are all common sense steps. … There is no reason Congress can’t get this done by the end of the summer,” Obama said.
The legislation includes spending an additional $6.5 billion a year on border security and training for border agents and a pathway to citizenship for 11 million undocumented immigrants.
Loveman believes an immigration overhaul will not only enhance demand for services, it will also lead to a greater level of innovation.
“We’re losing access to great minds that can help propel entrepreneurship and innovation forward,” he said. “There’s a lot of very highly specialized skills where we have an insufficient supply of people available to work, even with today’s high unemployment rate.”
While the procedural vote to start the debate passed overwhelmingly, the legislation itself faces many hurdles. Opponents have already offered amendments that could significantly change the bill.