11 Ways Immigration Reform Would Boost The Economy

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Hotel worker Ludivina Ordonez wears a United States flag over her shoulders during a May Day march Wednesday, May 1, 2013, in San Diego. Hundreds of people marched to Chicano Park Wednesday to show support for workers rights and immigration reform. (AP Photo/Gregory Bull)

Immigration is one step closer to becoming a reality after a Senate panel approved the bipartisan "gang of eight" immigration bill on Tuesday. But critics are still standing in the way, arguing comprehensive immigration reform would cost too much or amount to amnesty for undocumented immigrants.

Here are 11 things those people probably don't want you to know:

• Reform Would Help Curb The Deficit

  Immigration reform would <a href="http://articles.washingtonpost.com/2013-04-08/business/38371503_1_previous-immigration-bills-immigration-reform-immigration-laws" target="_blank">reduce the federal deficit by $2.5 trillion</a> over the next 10 years, according to an April analysis by the American Action Forum, a conservative think tank.

• Expelling Immigrants Is Expensive

  Expelling the approximately 11 million undocumented immigrants currently in the United States would cost $2.6 trillion over the next 10 years, <a href="http://www.cnbc.com/id/100449802" target="_blank">according to CNBC</a>. That's because it costs the government more than $8,000 to deport each person.

• Reform Would Help Fix The Social Security Problem

  Immigration reform would help bolster Social Security because more legal workers would mean more people contributing payroll taxes to its trust fund, <a href="http://www.huffingtonpost.com/huff-wires/20130508/us-immigration/?utm_hp_ref=arts&ir=arts" target="_blank">according to an analysis from the Social Security administration</a>. Undocumented workers <a href="http://www.huffingtonpost.com/2013/04/18/immigration-reform-social-security_n_3103500.html" target="_blank">already contribute $15 billion per year</a> to Social Security.

• Immigrants Start Successful Businesses

  More than <a href="http://www.washingtonpost.com/blogs/wonkblog/wp/2013/01/31/worried-about-the-economy-then-pass-immigration-reform/" target="_blank">a quarter of technology and engineering firms</a> started between 1995 and 2005 had a foreign-born owner, according to the Washington Post. One <a href="http://www.huffingtonpost.com/2013/04/22/american-companies-founded-by-immigrants_n_3116172.html#slide=2357880" target="_blank">of the founders of Yahoo!</a>, Jerry Yang, is an immigrant from Taiwan.

• Reform Would Save $410 Billion Over The Next 10 Years

  The immigration reform bill proposed by the "gang of eight" senators would save <a href="http://www.huffingtonpost.com/2013/05/15/immigration-reform-save-billions_n_3280145.html?utm_hp_ref=business" target="_blank"> $410 billion over the next decade</a>, according to an analysis from Gordon Gray, the director of fiscal policy at the American Action Forum, a conservative think tank. The savings would come largely from a boost in GDP resulting from undocumented immigrants gaining citizenship and in turn likely making more money.

• High-Tech Companies Say Reform Would Boost Their Bottom Line

  Companies like Microsoft and Google have said that immigration reform would help them by <a href="http://www.bizjournals.com/sanjose/news/2013/01/29/facebook-microsoft-back-senate.html" target="_blank">allowing for more H1B visas</a>, a special kind of visa geared toward highly-skilled immigrants. The tech giants say they can't find enough qualified people in the U.S. to fill their staffing needs.

• Reform Would Boost The Wages Of Native-Born Workers

  U.S.-born workers see between a 0.1 and 0.6 percent boost in wages on average with an increase in immigration, <a href="http://www.huffingtonpost.com/2013/01/30/immigration-reform-workers_n_2583576.html" target="_blank">according to a January report from the Hamilton Project</a>, an economic policy initiative of the nonpartisan Brookings Institution. That's because immigrant workers bring skills with them that complement those of native-born workers, leading to new jobs.

• Immigrants Are Entrepreneurial

  Immigrants are <a href="http://www.whitehouse.gov/blog/2013/03/13/economic-case-commonsense-immigration-reform" target="_blank">more than twice as likely</a> than native-born Americans to start new businesses, according to a White House report on immigration reform.

• Reform Would Boost GDP By More Than $1 Trillion Over 10 Years

  Immigration reform <a href="http://www.cnbc.com/id/100449802" target="_blank">would boost GDP by $1.5 trillion</a> -- or about 1 percent -- over 10 years, according to an estimate from UCLA professor Raul Hinojosa-Ojeda cited by CNBC.

• Immigrants Create Jobs

  Businesses owned by immigrants <a href="http://www.whitehouse.gov/blog/2013/03/13/economic-case-commonsense-immigration-reform" target="_blank">created 4.7 million jobs</a> in the U.S. in 2007, according to a White House report on immigration reform.

• Reform Would Bring In More Money Than It Costs In Benefits

  Though many critics of immigration reform argue against the cost of providing increased public benefits, analysts say higher spending is not a likely consequence. A Congressional Budget Analysis of George W. Bush's 2007 immigration reform proposal found that it would cost the government $23 billion in more public services, but bring in $48 billion in revenue, <a href="http://www.washingtonpost.com/blogs/wonkblog/wp/2013/01/31/worried-about-the-economy-then-pass-immigration-reform/" target="_blank">according to the Washington Post</a>.

Earlier on HuffPost:

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Source: http://www.huffingtonpost.com/2013/05/22/immigration-reform-economy_n_3320549.html

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