The Center for American Progress, an independent nonpartisan think tank, published a paper in March analyzing the 10-year economic impact of immigration reform under three scenarios.
In the first scenario, in which undocumented immigrants are granted legal status and citizenship this year, U.S. gross domestic product (GDP) would grow by an additional $1.4 trillion cumulatively over the next 10 years.
According to the paper, Americans would earn an additional $791 billion in personal income over the same time period and on average, an additional 203,000 jobs would be created per year.
Five years down the line, undocumented immigrants would be earning 25.1 percent more than they currently do and $659 billion more from 2013 to 2022. Earning more also means paying more local, state and federal taxes.
Legalizing California’s 2.5 million undocumented immigrants, the Center for American Progress estimates, would lead to a cumulative Gross State Product increase of $125.5 billion and an average of 18,200 newly created jobs each year.
The other two scenarios — one in which undocumented immigrants are granted legal status in 2013 and citizenship five years later and in the second scenario 10 years later — produce similar estimates, but the numbers decline as the time required before citizenship is lengthened.
This week, the Congressional Budget Office released estimates that the Senate immigration bill would decrease federal budget deficits by $197 billion between 2014 and 2023. Revenue would largely increase from new income and payroll taxes, according to the report.
GC Holder – you got yours, pull the ladder up behind you? That’s what’s wrong with my party these days, they won’t ewven allow the farm bill to help feed the poor. JC is ashamed somewhere…
As a fiscal conservative, decreasing the federal deficit by $197 billion sounds good.
And I suppose it was good enough for Reagan to amnesty everyone, so why not do it again?
Frankly, in raw political terms, until the GOP amnesties everyone, they will continue to get clobbered at national elections. Obama won hispanics 70-30 last time out. But they say Texas will turn blue in a decade or so, due to the hispanic vote, so maybe it doesn’t make a difference. Without Texas in the future, Romney’s landslide blowout will look like a picnic!
2016 may be the last chance this version of the GOP has to take the white house. No wonder they’re fabricating things about Hillary already. They’ll also have to shave the person of color vote down by 20 or more points. Tough row to hoe…
Gotta get used to a blue world. I’m Calli in Cali, after all…