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Photo: NICHOLAS KAMM/AFP/Getty Images

More than 140 businesses and trade associations on Friday filed an amicus brief in support of the Deferred Action on Childhood Arrivals program, or DACA, ahead of a Supreme Court hearing on President Trump's push to end the program.

Why it matters: Business leaders are making an economic case for the Obama-era policy, which protects more than 700,000 people brought into the country illegally as children from the threat of deportation.

The signatories include corporate heavyweights like Netflix, Ikea, Starbucks, Tesla, Target and Facebook.

  • Major trade associations like the U.S. Chamber of Commerce and the National Retail Federation also signed on.
  • Apple CEO Tim Cook and Senior VP Deirdre O'Brien signed a brief of their own Wednesday, making the case that diversity drives innovation.

Details: The business leaders' "friend of the court" filing focuses on the program's economic benefits and the ways in which DACA recipients stimulate the economy.

  • As consumers, Dreamers and their households have $24.1 billion in spending power annually, that is, income remaining after taxes.
  • As entrepreneurs, they have a total business income of $658.7 million.

The program's termination would reduce Social Security and Medicare contributions and increase unemployment, the leaders say in the brief.

  • Social Security and Medicare contributions would miss out on $40.9 billion over the next 10 years.
  • Hundreds of thousands of Dreamers would lose their jobs.
  • "Companies will lose valued employees," it says. "Workers will lose employers and co-workers."

What's next: The Supreme Court will hear arguments on Nov. 12 involving 3 cases in which lower courts decided Trump's termination of DACA was unconstitutional.

Go deeper

Dion Rabouin, author of Markets
1 min ago - Economy & Business

Our make-believe economy

Illustration: Eniola Odetunde/Axios

The Federal Reserve and global central banks are remaking the world's economy in an effort to save it, but have created something of a monster.

Why it matters: The Fed-driven economy relies on the creation of trillions of dollars — literally out of thin air — that are used to purchase bonds and push money into a pandemic-ravaged economy that has long been dependent on free cash and is only growing more addicted.

New hope for "smart cities"

Illustration: Sarah Grillo/Axios

It's time to polish our gleaming vision of urban environments where internet technology makes everything from finding a parking space to measuring air quality a snap.

Why it matters: The Biden administration's Cabinet appointees are likely to be champions of bold futurism in urban planning — which could mean that smart infrastructure projects, like broadband deployment and digital city services, get fresh funding and momentum.

4 hours ago - World

Hong Kong pro-democracy media tycoon Jimmy Lai detained on fraud charge

An activist holds a placard highlighting China's Tiananmen Square massacre as pro-democracy media tycoon Jimmy Lai arrives at West Kowloon Magistrates' Court in Hong Kong in November. Photo: Isaac Wong/SOPA Images/LightRocket via Getty Images

Hong Kong media tycoon Jimmy Lai is being detained until an April court hearing after the pro-democracy supporter was charged Thursday with fraud, per his Apple Daily news outlet.

Why it matters: The 72-year-old's arrest and denial of bail is another blow for the pro-democracy movement in the former British colony amid concerns about a fresh crackdown on activists.