According to Breitbart, starting Monday, Feb. 1, the Biden administration will reverse a series of President Trump’s “America First” era policies that will benefit big Wall Street banks but in turn severely hurt middle class and newly graduated Americans.
When more than 10 million Americans are still jobless due to the pandemic shutdown of the economy, the new Democratic administration will implement a series of policies that will create an influx of foreign workers, who due to their low wages, will displace Americans.
However, the big Wall Street banks will benefit from these measures, since, according to Breitbart “poor migrants are valuable to Wall Street, which scoops up the profits from additional government-funded aid and welfare, such as food stamps and Medicare.”
Wall Street was one of the big donors to Biden’s campaign for president, which spent $74 million to get President Trump out of the White House.
Migrant Protection Protocols
Biden will end the policy also known as “wait in Mexico,” an agreement President Trump signed with Mexico that prevents immigrants from El Salvador, Honduras, and Guatemala seeking “asylum” from working while waiting for the U.S. legal system to determine whether they actually have refugee status.
The reversal of this policy will encourage hundreds of thousands of people to venture to the U.S. border under the guise of refugees but who ultimately only wish to enter the country.
Biden will also sign an executive order to accept some 125,000 refugees from Africa, Asia, and other regions. During President Trump’s tenure the number of refugees dropped to 15,000, forcing companies to raise American wages and invest money in the country to save labor.
The Democrat will also repeal the “public charge” regulation, which denied entry to immigrants who were too poor to support themselves without state aid, that is without taxpayers having to pay for them until they are solvent.
Foreign workers visa programs
Biden will reinstate the H-1B, J-1 and L-1 visa programs that allow businesses to hire foreign workers at lower wages than they should pay Americans.
The most affected sectors of these visa programs are white-collar (including newly graduated) and blue-collar workers.
President Trump blocked these programs temporarily during the pandemic to favor the millions of Americans unemployed due to the effects of the economic shutdown and certainly this forced companies to raise the average wages of their employees.
The United States is a country of immigrants
According to various polls, there is a broad consensus among Americans, at least 80%, in favor of allowing legal and orderly immigration.
Illegal immigration ends up burdening taxpayers who have to pay for health care and financial assistance from the state, and damages the stability of the financial system, as large companies become enormously rich but the general population becomes poorer or it lowers their buying power.