The RAISE Act Would Hurt U.S. Taxpayers

ConclusionThe RAISE Act will increase the deficit relative to current immigration policy when updated CPS data on new arrivals are applied to the findings of the National Academy of Sciences.   A doubling of skilled immigrants, even if it is accompanied by a modest 25 percent increase in the flow of lower-skilled immigrants, almost doubles the fiscal benefit.  Small cuts in benefits received by immigrants increase the fiscal benefits by large amounts.  The federal government faces a severe budget crunch in the near future due to the cash shortfalls in Social Security and Medicare.   Immigration hasincreased net-revenues but not by nearly enough to offset the cost of the looming entitlement crisis.   Tinkering with immigration flows is not a serious way to address government debt as only fiscal reforms to means-tested welfare schemes, entitlement programs, and other government expenditures can do that.  The RAISE Act would worsen the federal government’s fiscal position even without consid ering how removing 500,000 skilled immigrant workers on H-1B visas within two years of enactment would affect revenues. Republicans control both Houses of Congress and the Presidency.   If they are serious about reducing the budget deficit then they need to tackle spending head on rather than playing around with the future flow of foreign workers through complex RAISE Act-like schemes that will actually make things worse.  Furthermore, it is more likely that Congress will be ab le...
Source: Cato-at-liberty - Category: American Health Authors: Source Type: blogs