Trump's merit-based immigration plan to lift US economy: Kevin Hassett

President Trump on Thursday proposed a border security and merit-based immigration plan and called on Democratic support and warned them of repercussions if they didn't.

"If for some reason, possibly political, we can't get the Democrats to approve this merit-based high-security plan, then we will get it approved immediately after the election, when we take back the House, keep the Senate and, of course, hold the presidency," Trump said.

Council of Economic Advisers Chairman Kevin Hassett told FOX Business’ Lou Dobbs that the president instructed his staff to examine the best ideas that would maximize economic growth and create jobs through immigration reform.

“We basically moved, as he said since the campaign, to a merit-based system that we think will really take the economy from the level we are at to a higher level,” he said.

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The White House predicts the new immigration plan could potentially generate as much as $600 billion to the country’s gross domestic product over 10 years.