The Congressional Budget Office and Joint Committee on Taxation issued two reports on the immigration reform bill, otherwise known as the “Gang of Eight” plan, noting its substantial benefits for the economy, job production and more, according to The Washington Post.
The CBO and JCT report found that enacting the bill would decrease the federal budget deficit by $197 billion between 2014 and 2023, and the changes in spending would decrease the deficit by $700 billion between 2024 and 2033. Additionally, the reform would promote job growth, according to the estimated report.
Immigration reform could provide 8 million of the estimated 11 million immigrants living in the country illegally with a pathway to U.S. citizenship. In turn, this action would fill jobs that are needed in the agriculture, construction and labor sectors.
“The Congressional Budget Office also made clear that passage of the immigration bill would not only reduce the deficit, it would increase economic growth for years to come,” White House Press Secretary Jay Carney said. “By fixing our broken immigration system – and making sure that every worker in America is playing by the same set of rules and paying taxes like everyone else – we can grow the economy, strengthen the middle class, improve our fiscal outlook and create new opportunity for Americans everywhere.”
While the report is an estimate and actual numbers could vary in 20 years, immigration reform advocates are eager to promote the positive news. The scores show further evidence that immigration can boost economic growth and reduce the national deficit. Conservatives who have shown resistance against the bill have long been analyzing numerical facts, and the report can steer some in the direction toward approval.