The nation’s biggest banks on Wall Street, investment firms, and pharmaceutical companies are among a number of multinational corporations throwing their support behind a plan from New York Gov. Kathy Hochul (D) that would have American taxpayers bail out the sanctuary state for an illegal immigration influx.
As Breitbart News reported, Hochul unveiled the bailout this week — promising to lobby President Joe Biden for millions, potentially billions, in American taxpayer money that would ensure border crossers and illegal aliens in New York secure jobs, healthcare services, housing vouchers, and free public transit.
“It is past time for President Biden to take action and provide New York with the aid needed to continue managing this ongoing crisis,” Hochul said in an address.
NY Gov. Kathy Hochul Begs Biden for Bailout: Americans Must Subsidize Housing, Healthcare for Illegal Alienshttps://t.co/jyDW29uhip
via @BreitbartNews @JxhnBxnder— Immigration Reform Law Institute (@IRLILaw) August 25, 2023
Hochul’s bailout plan is now receiving praise from the corporate lobby, a number of whom are donors to the upstate Democrat.
In a letter from the Partnership for New York City — a coalition of massive multinational corporations — business executives write to Biden that they fully support such a bailout and ask that he consider moving ahead with the plan.
“We write to support the request made by New York Governor Hochul for federal funding for educational, housing, security, and health care services to offset the costs that local and state governments are incurring with limited federal aid,” the executives write.
Most importantly to the corporate lobby, the executives note they want to see the Biden administration release border crossers and illegal aliens into the United States interior with work permits so they can take American jobs and expand the labor market.
Mass immigration is a boon for Wall Street, real estate investors, and corporations as it adds millions of new consumers to the economy, new residents who need housing, and new workers whom employers can hire to keep the price of labor down.
WATCH: Migrants Sleep On Sanctuary New York City Streets
“… there is a compelling need for expedited processing of asylum applications and work permits for those who meet federal eligibility standards,” the executives continue:
Immigration policies and control of our country’s border are clearly a federal responsibility; state and local governments have no standing in this matter.
There are labor shortages in many U.S. industries, where employers are prepared to offer training and jobs to individuals who are authorized to work in the United States. The business community is also providing in-kind assistance and philanthropic support to organizations that are addressing the immediate needs of this largely destitute population.
Executives who signed the letter represent corporations like Pfizer, Paramount, JPMorgan Chase, BlackRock, the WNBA, Citibank, Macy’s, AlleyCorp, Wells Fargo, Blackstone, Etsy, Goldman Sachs, Hearst, Maverick Capital, McGraw Hill, Tapestry Inc., the Georgetown Company, MetLife Inc., the IBM Corporation, LVMH, HSBC Bank USA, Deutsche Bank, Vox Media, and Apollo Global Management, among others.
“… we urge you to take immediate action to better control the border and the process of asylum and provide relief to the cities and states that are bearing the burdens posed by the influx of asylum seekers,” the executives write to Biden.
A number of the executives who signed the letter served as major donors to Hochul’s gubernatorial re-election bid last year against former Rep. Lee Zeldin (R-NY).
Hochul donors whose companies signed the letter include those linked to Vornado Realty Trust, the Related Companies, Tishman Speyer, the Fisher Brothers, and Standard Industries.
Already, American taxpayers are billed $143 billion annually for costs associated with illegal immigration. This estimate does not include any of the social and economic costs — such as higher housing prices, depleted wages, lost jobs, increased crime, and strained public resources at hospitals and schools.
John Binder is a reporter for Breitbart News. Email him at jbinder@breitbart.com. Follow him on Twitter here.
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