CBO study: immigration reform bill would cut deficit by $197 billion

A new study from the Congressional Budget Office challenges claims by some that the Senate ‘Gang of Eight’ immigration reform proposal would expand government spending, instead making the case for it being a deficit reducer.

According to the nonpartisan study, released yesterday, the proposal’s becoming law would reduce the deficit by about $197 billion over the next decade and $700 billion from 2024-2033.

Those numbers are juxtaposed against an estimated $258 billion increase in benefit costs, however the report emphasizes that only $25.8 billion of that is drawn from the bill’s legalization provisions.

The CBO report also predicts a boost to GDP as a result of the legislation, with a 3.3 percent increase by 2023 and a 5.4 percent increase by 2033.

The report goes on to estimate that 8 million immigrants would eventually be legalized as a result of the bill and projects an overall 10.4 million population increase.

New Hampshire Senator Kelly Ayotte, whose decision to back the Gang of Eight proposal has been met with both praise and scorn, took to Twitter to hail the CBO’s report as proof that plan is “pro-growth.”

Americans for Tax Reform head Grover Norquist, another backer who’s taken some heat, issued a statement calling it “more evidence that immigration is key to economic growth.”

“And because CBO employed the type of dynamic analysis conservatives have long clamored for, we have a full accounting of both the costs and benefits of reform. I urge Congress to fix our broken immigration system for the sake of the American economy,” Norquist continued.

Meanwhile former NHGOP Chairman, Americans By Choice co-founder, and NH Journal contributor Fergus Cullen penned an op-ed for the Wall Street Journal arguing in favor of reforms to immigration and guest worker programs in the context of the success with which foreign athletes are able to play for American sports teams.

Fellow immigration reform advocate, former Florida Gov. Jeb Bush, tweeted Cullen’s piece.

Author: Staff Reporter

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