Taxing American Competitiveness

Jacob Kirkegaard and co-author Arvind Subramanian discuss a quietly-passed bill that invests $600 million, aerial drones, and 1,500 additional border patrol troops in the Mexican-US border, while lowering the cap of highly-skilled workers who can come to America. The bill, they argue, is bad policy for America. It is unlikely to raise revenue, will inflict damage to American competitiveness, sour U.S. relations with India, and, above all, send the wrong signals about US attitudes to open global markets.