The nonpartisan Congressional Budget Office assessment of immigration reform is in. In a nutshell, passing comprehensive immigration reform woudl be a boon for the U.S. economy and would not cost the country as conservatives have charged. The summary and full report are here. Highlights include:
- Increase the size of the labor force and employment,
- Increase average wages in 2025 and later years (but decrease them before that),
- Slightly raise the unemployment rate through 2020,
- Boost the amount of capital investment,
- Raise the productivity of labor and of capital, and
- Result in higher interest rates.