Promises by presumptive Republican presidential nominee Donald Trump to deport immigrants living illegally in the United States and ban Muslims from entering the country would cost New York billions in lost tax revenue, economic productivity and tourist spending, according to a City Council analysis released Wednesday.
Council Speaker Melissa Mark-Viverito, a Democratic surrogate for Hillary Clinton, told a business leaders breakfast in midtown that “Donald Trump’s plans would devastate New York City and state’s economy.”
“The soul of our nation is at stake in this election,” she said during the breakfast, at the Grand Hyatt New York sponsored by the Association for a Better New York. By coincidence, the Grand Hyatt was the first building that Trump developed, about four decades ago.
The council’s finance division, in a project led by chief economist Raymond Majewski, helped calculate the economic impact at Mark-Viverito’s direction:
- Deporting the estimated 11 million immigrants who aren’t here legally would cost New York State taxpayers at least $49.2 billion — of the estimated $400 billion to $600 billion it’ll cost the country as a whole to get the plan off the ground.
- The $793 million in state and local taxes that the immigrants pay would be lost. They make up 10 percent of the city’s workforce — an estimated 340,000 people.
- The gross city product — a measurement of the value of goods and services produced by the city economy in a given time period — would decline by between $23.1 billion $26.3 billion — a 3 percent decrease.
- About 320,000 tourists from Muslim countries visited the city in 2014, and spent about $1.2 billion.
The council’s analysis does not factor in taxes and revenue generated by however many legal workers replace the deportees.
Mark-Viverito said she did not plan to order a similar study of the impact of Clinton’s election on the city. Mark-Viverito, who has stumped for Clinton, endorsed her in September, and all but three out of the Council’s 51 members are Republicans. The rest are Democrats.
Trump spokeswoman Hope Hicks did not return a message seeking comment.