'I can see this having a large impact on the economy because refugees contribute in many ways and in many meaningful ways,' said Steve Hubbard, a data scientist at New American Economy.
As the Donald Trump administration continues to face backlash over its plan to lower the cap on the number of refugees to be admitted into the country, experts are warning the move could have a strong negative impact on the economy.
"Refugees contribute in many ways and in many meaningful ways to our economy as earners and as taxpayers," he said. However, between just 2016 and 2018, under Trump, the number of new refugee arrivals to Salt Lake City has dropped by 70 percent, creating problems for local businesses. Meanwhile, also in 2017, more than 186,015 refugee entrepreneurs were living in the U.S., generating $5.6 billion in business income.
In cities like Buffalo, New York, for example, the struggle to maintain population numbers has led to fewer tax dollars, fewer jobs and slower industry growth.
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