Idea of the Day: Immigration Reform Would Increase Tax Revenues
Last year, the Senate passed the bipartisan Border Security, Economic Opportunity, and Immigration Modernization Act, or S. 744, which the Congressional Budget Office, or CBO, found would have significant fiscal and economic benefits for the nation. Yet since its passage, the House of Representatives has dragged its feet and failed to act on meaningful reform. This inaction means that the United States has already missed out on billions of dollars in potential tax revenues.
As millions of Americans file their taxes today, it’s important to remember that our broken immigration system diminishes our potential tax revenue. The following are the top five reasons why immigration reform would increase tax revenues:
- 5 million more workers and their employers would pay payroll taxes.
- Unauthorized immigrants would pay an additional $109 billion in federal, state, and local taxes.
- Reform would add a net $606 billion to the Social Security trust fund.
- Reform would extend the solvency of the Medicare trust fund by four years.
- Reform would reduce the deficit by $820 billion over the next two decades.
For more on this topic, please see:
- Top 5 Reasons Why Immigration Reform Means More Tax Revenues by Patrick Oakford
To speak with our experts on this topic, please contact:
Print: Liz Bartolomeo (poverty, health care)
202.481.8151 or email@example.com
Print: Tom Caiazza (foreign policy, energy and environment, LGBT issues, gun-violence prevention)
202.481.7141 or firstname.lastname@example.org
Print: Allison Preiss (economy, education)
202.478.6331 or email@example.com
Print: Tanya Arditi (immigration, Progress 2050, race issues, demographics, criminal justice, Legal Progress)
202.741.6258 or firstname.lastname@example.org
Print: Chelsea Kiene (women's issues, TalkPoverty.org, faith)
202.478.5328 or email@example.com
Print: Beatriz Lopez (Center for American Progress Action Fund)
202.741.6255 or firstname.lastname@example.org
Spanish-language and ethnic media: Rafael Medina
202.478.5313 or email@example.com
TV: Rachel Rosen
202.483.2675 or firstname.lastname@example.org
Radio: Sally Tucker
202.481.8103 or email@example.com