1. Short title This Act may be cited as the Improving Opportunities for New Americans Act of 2020 . 2. Findings Congress finds the following: (1) The United States has a long history of welcoming individuals of diverse national backgrounds who legally travel to the United States seeking opportunity and prosperity. (2) Immigrants and refugees in the United States bring a diverse range of professional backgrounds that strengthens the workforce of the United States and benefits American businesses. (3) The underutilization of the skills and experience of immigrants and refugees, often referred to as brain waste, comes at a significant cost to the economy of the United States and to immigrant families. (4) In 2016, researchers at the Migration Policy Institute found that nearly 2 million immigrants and refugees with college degrees in the United States were relegated to low-skilled jobs or were unable to find work. (5) On an annual basis, this underutilization is estimated to result in more than $10 billion in unrealized tax receipts from Federal, State, and local governments, and over $39 billion in unrealized wages for college-educated immigrants and refugees. (6) Many factors contribute to brain waste, including language barriers, limits on the recognition of international degrees and credentials, the accessibility of relicensing processes, and the availability of professional networks and assistance in finding suitable employment. (7) In the interest of strengthening the economy of the United States and ensuring consistent opportunities for the realization of the full potential of immigrant and refugee families, substantive efforts must be made to analyze and address the scope of brain waste in the United States. 3. Study on factors affecting employment opportunities for immigrants and refugees with professional credentials obtained in foreign countries (a) Study required (1) In general The Secretary of Labor shall conduct a study on the factors affecting employment opportunities in the United States for