Anti-immigration policies have been on the rise over the past four decades. The present study explored how anti-immigration policies and rhetoric impacted the psychological and material experiences of Latinx immigrant young adults across legal statuses. Furthermore, the present study examined the ways the COVID-19 pandemic was experienced by Latinx immigrant young adults. We analyzed semi-structured interviews with 30 immigrant young adults (ages 18-25; M = 20.93; SD = 2.03) from Latin America. Results suggested that restrictive immigration policies and the threat of deportation produced stress and interrupted the key developmental milestones of Latinx immigrant young adults. Results also show how the vulnerabilities experienced during young adulthood were further compounded by the pandemic. Findings can inform policy and practice aimed at supporting immigrant young adults during the transition to adulthood within the context of heightened anti-immigration policies and the pandemic. [This paper was published in "Applied Developmental Science."]