While Congress has been hotly debating how to deal with the record flood of immigrants into the U.S., and in particular how to deal with the estimated 12 million people who are currently in the country illegally, Corporate America has remained largely on the sidelines. But some experts argue that business has a major stake in what kind of "reform" ultimately results–even if most executives don't feel it affects them directly.

So, what kind of immigration policy would be good for business? To an extent, that depends on what business you're in. But if you ask, "What kind of immigration policy makes the most economic sense"–now, that's a question that may have a meaningful answer for Corporate America.

For some companies that need a lot of unskilled labor–larger agribusiness concerns and healthcare providers, for example–the current system of porous borders and lax enforcement can be a boon. Undocumented workers are, for the most part, hard-working and undemanding with regard to pay or working conditions. A kind of "don't ask, don't tell" system that hires workers without pressing too hard about their citizenship or green-card status has evolved among many employers.