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Like it or not a new immigration bill is taking shape and getting support from both sides of BI also businesses and investors have got to prepare for changes.
That could affect their bottom line but how -- Norton as -- -- Asia editor she just wrote an article detailing.
The winners and losers from a new bill Leslie joins us now good to see if we're back -- -- a politics -- a lot of people out there like a lot of people don't like it.
But there's going to be some changes and let's start with -- -- any final bill.
Is likely to have some major tax implications particularly as regards penalties this could directly benefit a lot of tax prepares companies could.
That's right that's right one of the companies that we identified that will benefit from immigration reform is obviously on H&R block.
H&R block prepares one of every seven tax returns in the United States.
It's also very popular with the low income filers novels obviously the newly documented workers are going to need to prepare.
Fax back taxes and -- some -- penalties associated with that.
And then of course are also the businesses businesses have been relying on illegal help.
When that helped becomes legal they're gonna have to start to reporting all of -- -- -- and that includes paying a lot of taxes.
That's right that's right so there'll be sure about corporate angle to that story as well all right also payroll processing they're trying to be a number of payroll processors that could benefit from this -- that's right on the federal processors just from the addition of newly documented workers -- -- -- but on.
-- -- Obviously that will be on -- increase revenues for them talking about companies like eighty.
OK these these by the where are all the -- I notice it century they're.
Art center that's that's about a border security is it -- that's right there's access especially benefits in two ways.
There is it has a very active border security practice and immigration practice it actually Brian some.
One of the fingerprinting on sort of bond program spurred that Department of Homeland Security my wife loves to avoid she -- get -- her fingerprints on anybody's database but that's right but it's you know when you and -- come into the airport and you your fingerprints are -- Then that's up accents -- probably runs that program.
So eccentric benefits from that they also will.
Benefit because there -- some new restrictions on.
On the so called H one -- says they'll be more visas issued.
Under the new regime if the senate built.
-- goes through but.
There will be restrictions in the use of these workers spoke.
-- -- obviously most of the new immigrants are gonna be Hispanic and orientation telemundo.
Which is owned by Comcast also clocks that are say he added 21 century fox has had a lot of interest and in media concerning.
Concerning Hispanic population they benefit graduate.
They benefit directly as well -- and what are the other companies that we think might benefit was hormel.
Businesses that are targeted towards Latinos.
-- they have -- as -- says.
To have them a brand called chi Chi's and we think that ends and fact let me tell you -- now thanks that US Hispanics will be the twelfth largest economy by.
The twelfth largest economy in the world while.
Now let's talk about some of the losers and read this is one that bad just not my my wife is is it ever grand -- my sister in laws here she's sending some money back home.
That western union a hot I imagine there will be less payments back home -- used to -- -- that could hurt western union right.
Right -- 1 PM -- one of these studies discovered that after the last amnesty in 1986.
The newly documented workers actually sent less money -- and so obviously western union would have a less money to -- the two sent back to take a cut off and yes.
That either way I wanna avoid politics but you did call -- amnesty it's interesting -- -- automatically just conceding.
Whatever it's gonna be some kind of an amnesty are also cognizant -- gonna get hurt.
Why come dissent is a heavy user of so called H one B visas these -- visas for high tech workers are temporary workers -- for a couple of years highly skilled.
And done under the new law if there is a new law there would be restrictions in the use of these workers.
OK overall I'm getting wrapped in the year but overall with the economy benefit do you think as a result of this well -- there's obviously -- -- divided on says but the CBO says that the that the growth in the economy would be much greater.
And that the on budget deficit would be.
Lower under immigration reform than not Leslie Norton from -- it's good to seamlessly thanks similar running appreciated can't talk.
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