A new report from the nonpartisan Congressional Budget Office firmly refutes any economic or fiscal case to be made against the comprehensive immigration reform bill now before the U.S. Senate. All that is left for those who oppose the Gang of Eight's bill are arguments based on xenophobia or other unreasonable fears of a future that looks different than what we imagined our past and present are like.
The scoring of the bill, S. 744, done by the officially above-the-fray CBO with colleagues from the bipartisan Joint Committee on Taxation, estimates that the economic activity unleashed by giving legal status to millions of immigrants who now live and work here without documentation, plus the millions more who could be legally admitted, would actually reduce the federal deficit by close to $900 billion between now and the year 2033.
That's a big guess that involves a lot of assumptions. But the major theory expressed by the report seems sound: The labor provided by the legalization of so many workers will not only boost the economy, as it creates demand and yet more jobs, it would also increase federal revenues by much more than it will cost the taxpayers in additional services.