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Biden approves hundreds of thousands of work-visas for Venezuelan migrants

September 21, 2023
Riley Callanan
Undocumented Immigrants from West Africa, Mexico, and Venezuela camp outside the Roosevelt Hotel in New York City.
Undocumented Immigrants from West Africa, Mexico, and Venezuela camp outside the Roosevelt Hotel in New York City.
Catherine Nance / SOPA Images/Sipa USA via Reuters

As President Joe Biden left the Big Apple last night, his administration announced that Venezuelans already in the country could legally live and work in the US for the next 18 months.

The decision will affect 472,000 Venezuelans nationwide and roughly half of New York City’s migrants, letting them support themselves and easing the strain on New York’s social safety net. (For more on the situation in New York, see our explainer).


The bigger picture: Adams is pushing Biden to extend the authorization to migrants from other nations, but the White House is wary that a broad policy could incentivize even more migrants to cross the border. On the national level, Democratic leaders fear the GOP could sweep suburban house districts in 2024 by weaponizing the migrant issue, as they did with crime in 2022.

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How will macroeconomic and geopolitical shifts shape markets in 2025?

RBC Capital Markets

As the macro landscape evolves and new market dynamics emerge, corporations and investors must understand the trends driving capital allocation, sector shifts, and emerging opportunities to position themselves for success. While there is growing optimism in the market, critical questions persist about geopolitical risks, the impact of tariffs and trade policies, the long-term outlook for the USD, and how to interpret the economic narratives and structural changes likely to shape the immediate future. Get insights from RBC Capital Markets experts on the economy, markets, and deal activity.

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