Implementing common sense immigration reform policies is a necessary action lawmakers need to take to ensure Iowa’s flourishing economy continues to grow.

While the in-state debate over immigration reform is relatively quiet right now, it’s an important one to keep top of mind. Immigrants make a substantial contribution to our economy. An analysis by Partnership for a New American Economy reported that immigrant-owned businesses in Iowa generate $216 million every year.

Immigrant workers are also filling gaps in the state’s workforce. This is especially true in science, technology, engineering and math (STEM) fields, where Iowa has one of the most severe shortages in the country. Unfortunately, the H-1B visa program doesn’t contain the type of flexibility these highly skilled individuals and potential employees need, nor does it adjust based on fluctuating labor demands.

The number of H-1B visas awarded is arbitrarily capped at 85,000 every year, and the convoluted lottery system generates an unmanageable influx of applications. For example, the application process for the FY 2016 H-1B lottery began April 1, 2015. Within the first five days, 233,000 applications were received, and the cap was met on April 7.

The result is a system that prioritizes chance over merit. While our nation’s top universities attract and educate the best minds from around the world, our broken immigration system rejects these students after graduation. They’re then forced to use their American-earned degrees in foreign countries, driving the growth of foreign economies instead of our own.

The Congressional Budget Office found that increasing H-1B visa numbers would generate more than $100 billion in revenue. Considering that a recent economic analysis ranked the United States second-to-last among developed nations in terms of welcoming skilled immigrants and entrepreneurs, it may be time to rethink our immigration strategy. Each day that passes with no action taken by lawmakers only increases the gap between the United States and foreign nations in the race for global talent.

As potential and declared presidential candidates descend on Iowa to interact with first-in-the-nation caucus-goers, business owners should expect candidates to outline thoughtful and meaningful positions on major issues that affect our country and economy. Fixing our nation’s broken immigration system should be at the top of the list.

The business-case for immigration reform is truly bipartisan. Being a conservative political candidate and favoring reform are not mutually exclusive. Substantive reform will create jobs, promote entrepreneurship, improve national security and ensure jobs remain on American soil instead of being outsourced to other countries. 

Immigration will be a key issue in the next election cycle. Common sense reform is both politically savvy and good for our country. As American business leaders, by definition, it is our duty to lead on issues that encourage economic development and ensure business prosperity. I encourage my fellow business leaders to bring this issue to the forefront, so we do not willfully submit to stagnated job creation and economic growth.