CBO Outlines Costs and Savings of Immigration Bill S. 744

24/7 Wall St.

Stock Split ImageWe now have the Congressional Budget Office’s projection for what the cost, benefit, and impacts would be for the current immigration bill under proposal. The Senate bill S. 744 is the “Border Security, Economic Opportunity, and Immigration Modernization Act” and the CBO is trying to make projections based upon a large increase in the number of noncitizens who could lawfully enter the United States on both a permanent and temporary basis. The caveat is just how close or far off of the estimates the CBO will end up being based upon what Congress ends up enacting.

If enacted, by 2023 there would be a projected net increase of 10.4 million residents in the United States versus the number of people projected under current law. That total increase is made up of about 10.4 million permanent residents, about 1.6 million more temporary workers and their dependents, and a decrease of about…

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About docjonz

I am an Associate Professor of accounting at Hofstra University in Hempstead, NY. Additionally, I have more than 30 years of professional accounting experience in various capacities including auditing, accounting standard setting and corporate accounting policy.
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