Skip to main content

From the Congressional Budget Office:

CBO and the staff of the Joint Committee on Taxation (JCT) estimate that enacting S. 744 would generate changes in direct spending and revenues that would decrease federal budget deficits by $197 billion over the 2014–2023 period (see Table 1 on page 12). CBO also estimates that implementing the legislation would result in net discretionary costs of $22 billion over the 2014–2023 period, assuming appropriation of the amounts authorized or otherwise needed to implement the legislation. Combining those figures would lead to a net savings of about $175 billion over the 2014–2023 period from enacting S. 744.
http://www.cbo.gov/...

And that's just the ten-year estimate. Looking ahead twenty-years, the CBO sees deficit reduction of $700 billion!:

The additional amount of federal direct spending stemming from enactment of S. 744 would grow after 2023 as more people became eligible for federal benefits as a result of the bill. CBO estimates that the net increase in the U.S. population under S. 744 would total about 16 million by 2033. The additional amount of federal revenues owing to the legislation also would increase after 2023. On balance, CBO and JCT estimate that those changes in direct spending and revenues would decrease federal budget deficits by about $700 billion (or 0.2 percent of Gross Domestic Product) over the 2024–2033 period. In addition, the legislation would have a net discretionary cost of $20 billion to $25 billion over the 2024–2033 period, assuming appropriation of the necessary amounts.
(my bold)

A description of the bill from immigrationpolicy.org:

The “Border Security, Economic Opportunity, and Immigration Modernization Act,” or S. 744, is a broad-based proposal for reforming the U.S. immigration system written by a bipartisan group of eight Senators known as the “Gang of Eight.” Senators Charles Schumer (D-NY), John McCain (R-AZ), Richard Durbin (D-IL), Lindsey Graham (R-SC), Robert Menendez (D-NJ), Marco Rubio (R-FL), Michael Bennet (D-CO), and Jeff Flake (R-AZ) drafted S. 744 in the spring of 2013.The bill addresses all aspects of the immigration process from border and enforcement issues to legal immigration reforms. It makes changes to the family and employment-based visa categories for immigrants, provides critical due-process protections, increases the availability of nonimmigrant workers to supplement all sectors of the workforce, and provides legal status to 11 million undocumented immigrants within the United States. The Senators intended this legislation to address these issues “…by finally committing the resources needed to secure the border, modernize and streamline our current legal immigration system, while creating a tough but fair legalization program for individuals who are currently here.”
http://www.immigrationpolicy.org/...

Originally posted to Animal Nuz on Tue Jun 18, 2013 at 03:02 PM PDT.

Also republished by LatinoKos and In Support of Labor and Unions.

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site