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Immigrants Boost Economic Vitality through the Housing Market
Abundant research shows that immigration is a net benefit to the United States’ economy. It leads to higher wages, business formation, job creation, and greater innovation – nationally and locally. Foreign workers who immigrate to the U.S. help alleviate labor force gaps left by a workforce increasingly nearing and entering retirement age. Furthermore, immigrants help […]
Read MoreSpotlight Moves to House After Senate Approves Immigration Bill
Now that the Senate has passed a sweeping measure to improve U.S. immigration policies, the attention turns to the House of Representatives, where it is unclear exactly when or how they will take up an immigration bill. The Associated Press reported that President Obama called House Speaker John Boehner (R-OH) and House Minority Leader Nancy […]
Read MoreIs a Border Surge the Only Way to Pass Immigration Reform and Ensure Legalization?
During the second full week of debate on S. 744, momentum towards passage increased with a positive CBO score, the defeat of several poison-pill amendments, and the announcement of a Republican border amendment that is thought to bring ten to fifteen Republicans to “yes” on final passage. A series of critical cloture votes is likely […]
Read MoreImmigrants and Their Children Fill Gaps Left by Aging American Workforce
Over the next two decades, as the baby boom generation continues entering retirement, we will experience the largest exodus from the workforce by any generational cohort in American history. This wave of retirees will create a labor force deficit among the millions of jobs baby boomers depart from on top of new job growth industries […]
Read MoreThe Power of Reform: CBO Report Quantifies the Economic Benefits of the Senate Immigration Bill
According to the Congressional Budget Office (CBO) and Joint Committee on Taxation (JCT), the fiscal and economic effects of the Senate immigration reform bill (S. 744) would be overwhelmingly positive. If enacted, the bill would help reduce the federal budget deficit by approximately $1 trillion over 20 years, would boost the U.S. economy as whole without negatively affecting U.S. workers, and would greatly reduce future undocumented immigration. These are the conclusions laid out in three reports released in June and July 2013. On June 18, the CBO issued two reports on the version of S. 744 that was reported out of the Senate Judiciary Committee on May 28. The first one analyzes (or “scores”) the fiscal impact of the bill over the next 20 years and the second one focuses on the impact that some aspects of the bill would have on the U.S. economy. On July 3, the CBO issued a revised score on the version of the bill that passed the Senate on June 27. This version includes the Corker-Hoeven “border surge” amendment, which calls for a significant increase in border-enforcement spending.
What is a CBO score and what are its main implications?
Nearly every bill that is approved by a full committee of either house of Congress is subject to a formal cost estimate by the CBO. The report produced as a result of this analysis is known as the CBO “score.” The purpose of this analysis is to aid in economic and budgetary decisions on a wide assortment of programs covered by the federal budget. In general, the CBO estimates what the net fiscal impact of a bill would be, considering both the costs and the benefits associated with its implementation.
CBO Gives High Marks to Senate Immigration Bill
Yesterday, the Congressional Budget Office (CBO) released its much-anticipated “scoring,” or cost estimate, of the Senate immigration bill. Overall, the numbers are good. Very good. The CBO projects 20 years ahead and predicts fiscal savings in the amount of roughly $1 trillion. In addition, the CBO explained in a separate report that the bill would […]
Read MoreHappy Birthday DACA!
A year ago, President Obama announced the DACA program from the steps of the White House Rose Garden. The announcement marked a victory for thousands of undocumented immigrant youth whose courage and activism inspired the Administration to take action. Since that day, over half a million young immigrants have come forward under DACA to seek […]
Read MoreSenate Overwhelmingly Approves Motion To Proceed To Immigration Bill
S. 744, the Gang of Eight’s immigration reform bill, cleared another significant hurdle today when the Senate approved a motion to proceed to the legislation. The motion to proceed passed overwhelmingly by a vote of 84-15.
Read MoreProcedural Path Of The Senate Immigration Bill
The Senate immigration reform debate has officially begun. Senate Majority Leader Harry Reid (D-NV) filed cloture on the motion to proceed Thursday on S. 744, the “Border Security, Economic Opportunity, and Immigration Modernization Act,” the first step to having the full Senate debate the measure after the Senate Judiciary Committee approved it a few weeks […]
Read MoreImmigration made U.S. world’s best startup
The Fresno Bee Immigration is pure entrepreneurship. You leave behind everything familiar to start somewhere new. To succeed, you need to develop alliances. You must acquire skills. You will have to improvise on occasion. It’s a bold proposition. Immigration is also fundamental to the U.S. national identity — as the Senate acknowledged with passage of […]
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