How immigration reform could save taxpayers nearly $1 trillion

An economic case for the controversial legislation

Immigration reform gonna make it rain.
(Image credit: iStockPhoto)

The Congressional Budget Office said on Tuesday that the sweeping immigration bill before the Senate could dramatically pare down the national deficit, giving proponents of the legislation a powerful new selling point as Congress moves closer to a final vote.

Should the bill, as it is currently written, become law, it would boost the U.S. population by 10.4 million over the next decade while lowering the deficit by $197 billion over the same period, the CBO said in a report. While the CBO said the federal government would need to increase spending by $262 billion as a result of the bill, those outlays would be more than offset by $459 billion in new revenue, much of it coming from payroll taxes.

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Jon Terbush

Jon Terbush is an associate editor at TheWeek.com covering politics, sports, and other things he finds interesting. He has previously written for Talking Points Memo, Raw Story, and Business Insider.