Washington, D.C. – Today, as Americans wait for the House of Representatives to take up immigration reform, new analysis from the Center for American Progress shows the substantial impact that the passage of reform would make.
The Congressional Budget Office estimated that S. 744, the Border Security, Economic Opportunity, and Immigration Modernization Act, would reduce our deficit by $135 billion over the first 10 years. Based on those calculations, CAP estimates that in the four months since the Senate passed S. 744, we have already missed out on a net $4.9 billion in additional tax revenues. With each additional day that passes, another $37 million in revenue is lost.
There is no denying the powerful impact that immigration reform could have on our economy. But the clock is ticking. Each minute that the House waits to pass immigration reform is another minute we are losing out on the economic benefits of reform. The cost of inaction is too high for the House to postpone immigration reform any longer.
View the lost revenue clock here
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To speak with an expert on this topic, contact Crystal Patterson at [email protected] or 202.478.6350.
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