September News Roundup
New Report Shows Fortune 500 Companies With Immigrant Roots, Temporary Protected Status Extended for Ukraine and Sudan, Pass the Afghan Adjustment Act
New Report Shows Fortune 500 Companies With Immigrant Roots
The American Immigration Council released a report highlighting the contributions of immigrant entrepreneurs and their children to the U.S. economy. The report shows that 224 of Fortune 500 companies in 2023 were founded by immigrants or their children (up from 43.8% in 2022). These New American Fortune 500 companies collectively generated $8.1 trillion in revenue last year, and employ over 14.8 million people. The top five countries of origin for immigrant founders of Fortune 500 companies were India, China, Germany, Canada, and the United Kingdom. The top five industries for New American Fortune 500 companies were technology, healthcare, financial services, retail, and manufacturing.
This report tells us that immigrants are not only starting businesses at a higher rate than native-born Americans, but they are also creating jobs and generating billions of dollars in revenue. This is a reminder that immigration is not a drain on the economy, but rather a source of economic growth and opportunity.
Temporary Protected Status Extended for Ukraine and Sudan
The Department of Homeland Security (DHS) has extended and redesignated Temporary Protected Status (TPS) for Sudan and Ukraine. TPS is a program that allows nationals of certain countries who are unable to safely return home due to ongoing armed conflict, environmental disaster, or other extraordinary and temporary conditions, to remain in the United States temporarily.
The TPS extensions for Sudan and Ukraine apply to those who already have TPS, while the redesignations allow nationals from these countries who were in the United States as of October 20, 2023 to request TPS for the first time. Both last until April 19, 2025.
Pass the Afghan Adjustment Act
Since August 2021, countless Afghan families have been displaced from their homes, including many individuals who risked their lives in support of the U.S. military in Afghanistan. During the evacuation, the U.S. welcomed more than 76,000 Afghans through humanitarian parole. Parole is temporary protection and does not offer a clear path to permanent status.
In July 2023, a bipartisan group of lawmakers introduced the Afghan Adjustment Act, which would provide a path to a green card for Afghans who were evacuated to the United States in the wake of the U.S. withdrawal from Afghanistan. The Act would allow them to apply for a green card after one year of being in the country. It would also expand eligibility for special immigrant visas to those who assisted the U.S. military. The legislation would also allow for more congressional control over ongoing relocation and resettlement of Afghans.
The bill is essential to providing Afghans who have helped the United States with a pathway to permanent residency and to ensuring their safety and security.
