Nicklaus: Immigration bill would be bad for the economy

Everyone in Washington claims to be frustrated by the economy’s slow progress, but some of them are pushing a policy that could cut its growth rate further.

I’m talking about the RAISE Act, the immigration bill that was recently endorsed by President Donald Trump. Clayton-based Macroeconomic Advisers estimates that the legislation could reduce the rate of growth in the gross domestic product by about 0.2 percentage point per year. We’ve been seeing about 2 percent growth lately, so this bill would make a sluggish economy about one-tenth slower.

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