The surge in immigration will help bolster the U.S. economy by about $7 trillion over the next decade by swelling the labor force and increasing demand, the Congressional Budget Office said on Wednesday.
The stronger growth will be good for the federal government, lifting revenues by about $1 trillion more than otherwise over the period, according to the non-partisan agency. Wages, however, will rise more slowly, in part reflecting the increase in the number of lower skilled workers, in the CBO’s estimation.
“Increases in the population boost the demand for goods, services, and housing,” the CBO said in its budget and economic outlook for the next 10 years. “They also expand the productive capacity of the economy by increasing the size of the labor force.”
Read More: The Conservative Case for Immigration
The increased migration stems mainly from people entering the U.S….
