The Gang of Eight’s immigration reform bill would lower America’s deficit by $197, over the next decade. The Congressional Budget Office (CBO) stated that the Senate bill, S.744, if passed would lower the federal budget deficits. CBO also stated that around 8 million unauthorized residents would become legal residents, if President Obama signs the immigration reform bill into law. Likewise, it estimated that the federal deficit would reduce by $700 billion, over the next 20 years, if the US Congress passes the immigration reform bill of the Gang of Eight. Moreover, this bill would grant millions of undocumented immigrants an opportunity to apply for US citizenship.
In 2007, conservative groups like the Heritage Foundation, helped to kill immigration reform. But now, the CBO has weighed in and it has stated that the immigration reform bill would benefit the economy of the country. Many lawmakers praised the CBO and Senator Chuck Grassley, who is against immigration reform stated that the Congressional Budget Office is “like God”. According to this analysis, though the American economy would adversely be affected, if the Senate bill is passed and if the country’s unauthorized residents are legalized, the bill would later benefit the country’s economy by reducing the federal budget deficit. CBO’s analysis also states that the border security provisions included in the bill would cut down illegal immigration only by 25 percent. Nevertheless, the federal deficits would decrease by $197 billion, if the bill is passed.
Many members of the Republican party including Senator Jeff Sessions, earlier stated that the legalization process would cost the country a lot and that it would harm the country’s economy and the US workers. The opponents also supported the report that was released by the Heritage foundation that stated that the newly-legalized immigrants would receive more in benefits than what they would pay in taxes and that it would result in a $6.3 trillion loss to the country, over the next 50 years.
However, this bill would require the business owners in America to use an internet based verification system to check the status of their employees. Similarly, this bill would address the needs of the US employers who are in short of workers by creating new visa programs. It would put an end to visa overstays and it would make it harder for the unauthorized residents to find employment in the country.