Overview

• New Congressional Budget Office data indicates that higher levels of immigration will boost America's economy and reduce the federal deficit by about $1 trillion over the next decade.
• The CBO projects that the surge in immigration, both legal and illegal, will initially put downward pressure on wages through 2034 but will also lead to increased GDP growth and an expanded labor force.
• The U.S. economy is expected to grow by an additional $7 trillion over the next decade due to the surge in immigration, creating a larger labor force and increasing demand for goods and services.
• The surge in immigration is seen as a way to avoid the demographic challenges faced by other developed countries, with a significant portion of immigrants being in their prime working years.
• Despite political debates over immigration policies, the CBO's findings highlight the economic benefits of increased immigration, including a larger labor force and higher federal revenues.