Immigration reform is the hot topic in Washington D.C. right now, with both the Senate and House of Representatives seriously discussing major overhauls to the current U.S. immigration system.
The Senate’s bill is on the Senate Floor this week, with over a 100 amendments to be decided upon yet. Advocates of reform in the Senate are hopeful a bill will pass in the next month or so. Meanwhile, the House is discussing individual reforms in Committee now, and seems to be taking a more conservative approach, both in proposals and timeframes. Outcomes are uncertain, but this is certainly the most serious discussion on immigration reform in Washington D.C. in at least a generation.
Critics of the reform efforts have suggested that the proposal in the Senate will end up costing Americans. Not the case, says the Congressional Budget Office, which today released a report on the figures.
The CBO found that the Senate’s bill, if enacted as is, will:
• Decrease the federal deficit by $197 billion over the next 10-year period
• In a 20-year outlook, it is estimated that comprehensive immigration reform with a pathway to citizenship would further decrease the federal deficit by another $700 billion by 2033
• Eight million people will eventually become citizens under the new law
Turns out immigration reform might just be good for the economy after all.