Big Banks Throw Support Behind Joe Biden’s Big Amnesty for Illegal Aliens

NEW YORK, NEW YORK - JANUARY 28: The New York Stock Exchange (NYSE) stands in the Financial District in Manhattan on January 28, 2021 in New York City. Markets continue a volatile streak with the Dow Jones Industrial Average rising over 500 points in morning trading following yesterdays losses. Shares …
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Six of the United States’ biggest banks signaled support for President Joe Biden’s massive amnesty plan that would put roughly 11 to 22 million illegal aliens on a path to securing American citizenship while doubling legal immigration levels.

During a Senate Banking Committee hearing, the chief executives of Wells Fargo, Goldman Sachs, Citigroup, JPMorgan Chase, Bank of America, and Morgan Stanley suggested that Biden’s amnesty plan “would ultimately help us build a more robust, stronger economy” in a line of questioning from Sen. Bob Menendez (D-NJ).

Menendez, in a post online, touted Wall Street’s support for the Biden amnesty plan:

Biden’s amnesty plan, introduced in the Senate by Menendez, would import a foreign-born population nearly the size of California by 2031 as nearly 12 million illegal aliens would have taken advantage of the amnesty provisions by then, previous analysis has found.

Overall, the Biden amnesty would likely bring more than 37.3 million foreign nationals to the U.S. — a boon for Wall Street and other corporate interests looking to inflate the U.S. labor market, reduce the cost of labor, invest in more necessary housing while adding as many consumers to the market as possible.

Wall Street is only the latest special interest to join an amnesty coalition that is currently being spearheaded by Biden and former President George W. Bush.

Others lobbying Republican lawmakers to back the massive amnesty include the Koch-funded Americans for Prosperity, the U.S. Chamber of Commerce, the Business Roundtable, the Bloomberg-funded New American Economy, the Texas Association of Business, and taxpayer-funded refugee contractors.

Every year more than 1.2 million legal immigrants are awarded green cards, another 1.4 million foreign nationals are given visas, and hundreds of thousands of illegal aliens are added to the U.S. population. Aside from Wall Street, the big business lobby and Big Tech have lobbied for years for an amnesty and an increase in legal immigration levels to boost their profit margins by cutting labor costs through U.S. job outsourcing.

John Binder is a reporter for Breitbart News. Email him at Follow him on Twitter here


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