Study: Senate immigration bill will reduce deficit, boost economy
The Congressional Budget Office (CBO) released a report on Tuesday, June 18 showing the bipartisan Senate immigration bill will decrease the federal deficit by $197 billion over the next 10 years. In addition, it is estimated that comprehensive immigration reform with a path to citizenship would further decrease the federal deficit by another $700 billion by 2033.
Virginia will benefit significantly from Congress fixing the broken immigration system through this bipartisan bill.Over the next 10 years, Virginia will receive a cumulative $16.3 billion increase in gross state product (GSP), an additional $670 million increase in taxes paid by undocumented immigrants, and a $9.6 billion increase in all state resident earnings.
“Not only does this bill makes sense from a humanitarian perspective, it is also a smart move to improve Virginia’s economy,” said Virginia Organizing Chairperson Sandra A. Cook.
“Virginia Organizing has been meeting with our Members of Congress to show them that comprehensive immigration reform is what Virginians want. Now, the non-partisan Congressional Budget Office and the Center for American Progress have the data that show this bill will be good for the economy. We certainly hope Congress is paying attention!” said Cook.
Last week, Virginia Organizing released a poll in Virginia commissioned by the Alliance for Citizenship, Partnership for a New American Economy, and Republicans for Immigration Reform showing broad support across demographics, including political party affiliation, for the bipartisan Senate bill.