May 8 (Bloomberg) -- A Social Security Administration analysis said the Senate’s bipartisan immigration proposal would boost U.S. tax revenue, create jobs and increase the gross domestic product over the next 10 years.
Stephen Gross, chief actuary for the agency, said the bill would have a “substantial positive effect” on the economy, in a letter to Florida Senator Marco Rubio, a Republican who helped draft the legislation and requested the analysis.
The analysis, released today, may aid backers of the legislation, which has been criticized by opponents as a drain on the U.S. economy. A report released earlier this week by the Republican-leaning Heritage Foundation said that creating a path to citizenship for about 11 million undocumented immigrants now in the U.S. would cost taxpayers $6.3 trillion.
According to the Social Security Administration, the bill would add more than $275 billion in revenue to Social Security and Medicare, increase the gross domestic product by 1.63 percent and add more than 3 million jobs over the next decade.
The Senate Judiciary Committee tomorrow plans to begin considering hundreds of amendments to the legislation.
“The timing couldn’t be better,” said Frank Sharry, executive director of immigrant-rights group America’s Voice in Washington. “It’s a game changer.”
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