Immigration Could Reduce the Deficit by at Least $1 Trillion Over the Next Ten Years

Source: The Volokh Conspiracy
by Ilya Somin

“One standard rationale for immigration restrictions is the idea that immigrants overburden the welfare state, thereby increasing fiscal burdens on natives. In reality, just the opposite is true. Immigration actually reduces those burdens, on net. A new Congressional Budget Office (CBO) report estimates that immigration will reduce the federal budget deficit by some $1 trillion over the next ten years. … supposedly adverse fiscal effects are still a significant restrictionist talking point, especially among those who consider themselves libertarians or fiscal conservatives. The CBO report adds to the already extensive evidence showing that such concerns are not only misplaced, but counterproductive. Far from increasing the fiscal burden on natives, immigration actually reduces it.” (02/11/24)