Senate Reconciliation Bill Immigration Funding Sparks Corporate Hiring Freeze Fears Across 5 States
In a pre-dawn vote that blindsided Wall Street, the Senate’s new reconciliation bill redirects $23 billion from economic development grants into immigration enforcement, triggering immediate hiring freezes at major manufacturing plants in Texas, Arizona, and Nevada. CEOs of three Fortune 500 firms told CNBC the shift creates a $4.7 billion labor gap as legal immigrant work visa processing stalls, projecting a 2.3% GDP dip in Q3 if this funding reallocation holds.