Here's Jamie Dimon's policy advice for incoming President Trump
Win McNamee
- Jamie Dimon urges incoming president Donald Trump to prioritize immigration policy in his second term.
- Trump has said he plans to conduct mass deportation in his second term.
- Dimon also advocates for education reform and doubling the earned income tax credit.
With Donald Trump set to take office in about a week, top Wall Street leaders are coming forward with advice.
JPMorgan CEO Jamie Dimon honed in on immigration policy when asked what advice he'd give Trump for his second presidential term in a CBS News interview posted Sunday. "Get immigration, border security right," he said. "Then proper immigration after that."
Since his debut on the political stage, Trump has been outspoken about immigration policy. On the campaign trail last year Trump said he would carry out the "largest domestic deportation in American history." He also plans to end birthright citizenship, build new ICE detention centers, and reinstate his first-term policies. During his first term in office, he curtailed legal immigration rates, signed an executive order that suspended several types of work visas, including H-1B visas, which are crucial for the tech industry, and completed hundreds of miles of construction on a border wall between the US and Mexico.
Dimon says he agrees with Trump's big-picture view on immigration. "You could talk about specifics and disagree, but the concern around border security, obviously, every country in the world is concerned about that," he said.
Beyond immigration, Dimon says he wants to see changes to our education system. "I would love to see high schools, community colleges, and colleges measured on what is the outcome of the kid being educated. Like do they get a job that's well paying, not do they do math well," he said. "I believe that would put a lot more pressure on schools to teach skills that can give you really good paying jobs." That includes jobs in fields like data analytics, manufacturing, nursing, compliance, and financial skills, he said.
He's also in favor of eliminating tax breaks, even for the wealthy. He proposed doubling the earned income tax credit: a refundable tax credit for low to moderate-income workers, particularly those with children. "That alone would put a lot more money into the pockets of people who are working who are lower income, it would go into their communities, into their families," he said.