Washington, D.C. - U.S. Senator Marco Rubio (R-FL) issued the following statement regarding the Congressional Budget Office's (CBO) assessment that the immigration reform legislation will significantly reduce the deficit over the next 10 years and reduce the deficit by approximately $700 billion between 2024-2033:
"The CBO has further confirmed what most conservative economists have found: reforming our immigration system is a net benefit for our economy, American workers and taxpayers. There remain some key areas that need to be tightened up to prevent those who have violated our immigration laws from accessing federal benefit programs. But overall, the CBO report offers encouraging evidence that the status quo is unacceptable and we can end it without burdening our already burdened taxpayers and, in fact, reduce the deficit over the next 20 years."
According to the report, "CBO and the staff of the Joint Committee on Taxation (JCT) estimate that enacting S. 744 would generate changes in direct spending and revenues that would decrease federal budget deficits by $197 billion over the 2014–2023."
The report also notes, "On balance, CBO and JCT estimate that those changes in direct spending and revenues would decrease federal budget deficits by about $700 billion (or 0.2 percent of Gross Domestic Product) over the 2024–2033 period."