February 7, 2024

CBO: Migrant Surges Will Grow U.S. Economy by $7 Trillion

Hola de nuevo!

This is the 19th edition of Capitol.press. 

Today we share a new report by the nonpartisan Congressional Budget Office (CBO) showing that increased migration will grow the U.S. economy by $7 trillion over the next decade. 

CBO Director Phillip L. Swagel offered additional context in a statement on the watchdog’s website — 

“In our projections, the deficit is also smaller than it was last year because economic output is greater, partly as a result of more people working. The labor force in 2033 is larger by 5.2 million people, mostly because of higher net immigration. 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. We are continuing to assess the implications of immigration for revenues and spending."

You can read the report here.

Why It Matters: Americans continue to drift rightward on immigration, with polls showing increasing support for anti-migrant policies largely driven by the ceaseless invasion narratives broadcast to the interior from the southern border with Mexico. 

Key Contrast: CBO’s report clearly articulates an important upside to the overall U.S. economy of increased migration — namely, growth … lots of it. 

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A word from AOC about the CBO report

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We’re on TikTok!

Below, Arturo debunks some things from House Speaker Mike Johnson’s presser yesterday.

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