Latest news with #budgetlaw
Bloomberg
6 days ago
- Business
- Bloomberg
Grow the Economy? Not With These Immigration Restrictions
According to the White House and congressional Republicans, the new budget law will spark economic growth of more than 3%. Reaching that goal, however, will be made far more difficult by a provision they see as central to the law: the $150 billion-plus it adds to immigration enforcement. The administration's agenda of sharply lower immigration and mass deportations is bad for growth. Unauthorized immigrants — persons who entered the country illegally or received a temporary, humanitarian status at entry — are the administration's primary focus as it restricts entry into the US, revokes humanitarian visas and deports those already in the country without authorization. To bolster those efforts, the new law includes $70 billion to increase border security and $75 billion for interior enforcement operations. It raises fees for applying for humanitarian visas and work authorizations and imposes a 1% excise tax on remittance transfers.
Bloomberg
26-06-2025
- Politics
- Bloomberg
DA Backs South Africa Budget Bill Despite Deputy Minister Removal
The second-biggest party in South Africa's coalition government will back a key law underpinning the budget even after President Cyril Ramaphosa fired one of its officials from his executive. 'This move is not part of a broader reshuffle, and there can therefore be no other conclusion to be drawn that this is a calculated assault' on the Democratic Alliance, its leader, John Steenhuisen, told lawmakers in Cape Town Thursday. 'If this situation is not corrected, it will go down as the greatest political mistake in modern South African history.'
