The march for commonsense immigration reform took another step forward today. The Congressional Budget Office (CBO), the federal agency that provides economic data to Congress, has released its cost estimate of the immigration reform bill's impact on the deficit, the economy, and American workers.
The nonpartisan CBO found that S. 744, the immigration reform bill in the Senate, will:
- decrease the federal budget deficit, and lead to a net savings of $175 billion over the first ten years after enactment;
- increase real Gross Domestic Product, relative to current law, by 3.3% in 2023, and 5.4% in 2033; and
- have no major impact on wages in the first ten years after enactment, expand the labor force, and enhance demand for goods and services.
Momentum for commonsense immigration reform is growing every day. Opponents of reform can refuse to accept the math, but the fact remains that a sensible immigration solution with a roadmap to citizenship is the gift that keeps on giving, now and in the long term.