As members of the U.S. Senate on Wednesday battled over a bipartisan security package containing 'chaotic and cruel' border policies , a nonpartisan federal agency highlighted the economic benefits of immigration's impact on the labor force . Based on 10-year projections, 'the labor force in 2033 is larger by 5.2 million people, mostly because of higher net immigration,' Congressional Budget Office (CBO) Director Phill Swagel said in a statement.
'As a result of those changes in the labor force, we estimate that, from 2023 to 2034, GDP will be greater by about $7 trillion and revenues will be greater by about $1 trillion than they would have been otherwise.' Those are some key takeaways from a new CBO report, The Budget and Economic Outlook: 2024 to 2034. Although, as The Washington Post's Jeff Stein pointed out, 'it does not take into account any legislation that Congress may or may not approve,' the immigration-related projection still caught the attention of several politicians and observers
U.S. Senate Bipartisan Security Package Border Policies Immigration Labor Force Congressional Budget Office GDP Revenues
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