Heinrich: CBO Report Shows Immigration Reform Would Shrink Deficit, Grow Economy

WASHINGTON, D.C. - U.S. Senator Martin Heinrich (D-N.M) issued the following statement after the Congressional Budget Office (CBO) released its report showing that passing S.744, the senate bipartisan immigration reform bill, would reduce budget deficits by $197 billion over the next decade, and about $700 billion in the second decade:

"The recent Congressional Budget Office report offers compelling evidence that accountable immigration reform is good for our economy, our workforce, and the future of our middle class. It debunks the notion from critics that reform would hurt our economy. These numbers also make clear that passing accountable immigration reform would not only reduce the deficit, but also substantially increase our country's GDP.

"As the son of an immigrant, fixing our broken immigration system is an urgent priority for me and for hard-working families across New Mexico. The CBO report is encouraging, and affirms our commitment to create a fair immigration system that keeps families together, encourages our STEM leaders to be future entrepreneurs, and continues to strengthen our border security."   

Links:

CBO Cost Estimate providing projections of the bill's effects on federal spending, revenues, and the deficit.

CBO Report on the economic impact of S. 744, analyzing the bill's overall effects on economic output, employment, wages, productivity, and interest rates.