Though the U.S. is often described as “a nation of immigrants,” immigration to the United States has been among the most contentious political issues in recent decades and a dominant concern for voters over the past few years. Immigrants bring with them a range of mostly positive demographic, fiscal, and economic impacts. Yet we have entered a new era of significantly slowed migration, which my colleagues and I have estimated to be net negative in 2025 for the first time in at least half a century. What implications will that have?
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