On June 18, 2013, the Congressional Budget Office issued a Cost Estimate regarding the budgetary effects of Senate bill\u00a0 S. 744 Border Security, Economic Opportunity and Immigration Modernization Act<\/em>.\u00a0 The CBO estimated that implementing the Senate bill as written would increase federal direct spending to $262 billion mostly for increases in refundable tax credits arising out of a larger US population under the bill.\u00a0 Simultaneously, the report estimated an increase in federal revenues collection of $459 billion over the same period arising out of additional income and payroll taxes from\u00a0 an increased US workforce and a change of legal status of some current workers.\u00a0 The result would be a net savings of $175 billion over the 2014-2023 period.<\/p>\n The CBO stated that while the effects of immigration policies on the federal budget are uncertain and complicated especially when extended well into the future, the estimates make assumptions regarding the legislation’s stated increases (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" On June 18, 2013, the Congressional Budget Office issued a Cost Estimate regarding the budgetary effects of Senate bill\u00a0 S. 744 Border Security, Economic Opportunity and Immigration Modernization Act.\u00a0 The CBO estimated that implementing the Senate bill as written would…<\/span><\/p>\n