Analysis: The SUCCEED Act Will Grow The American Economy, Create Jobs, And Lower Deficitsbladenonline 09/28/2017 0 COMMENTS
WASHINGTON, D.C. – This week, the Niskanen Center released an economic analysis of the SUCCEED Act, introduced by Senators Thom Tillis (R-NC), James Lankford (R-OK) and Orrin Hatch (R-UT). The SUCCEED Act a merit-based, long-term solution for undocumented children to earn legal status if they work hard, follow the law, and pay their taxes. The analysis from the Niskanen Center clearly demonstrates the SUCCEED Act is also great for the health of the American economy.
Highlights of the analysis:
*The SUCCEED Act would create 117,000 new jobs. That is more jobs than the number of Americans employed by companies like Apple, Google, Microsoft, Coca-Cola, and Facebook.
*The SUCCEED Act would increase GDP by $81 billion over 10 years. The cumulative GDP boost is more than the annual GDP of more than 10 states.
*The SUCCEED Act would increase net federal revenue by $22 billion over 10 years.
*Under the SUCCEED Act, eligible immigrants will contribute $738 billion to gross domestic product (GDP) over a decade and $204 billion in net revenue to federal, state, and local governments.
Additionally, a recent analysis conducted by the CATO Institute similarly concluded that the SUCCEED Act will have a revenue-generating and deficit-reducing impact:
“…We find that that SUCCEED will boost revenues by about $94.7 billion above expenditures, in net present value, relative to keeping the DREAMers in illegal status along with a steady rate of deportation. These extra revenues would accrue to the federal, state, and local governments…This long-term projection and discounting guarantees that the future fiscal costs of entitlements and the descendants of the DREAMers are included. Our estimate is similar to another conducted by the Niskanen Center.”Share: