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CBO: Immigration Bill Will Reduce Deficit

Immigration Report Released
WASHINGTON, DC - APRIL 18: U.S. Sen. John McCain (R-AZ) (2nd L) speaks as (L-R) Sen. Jeff Flake (R-AZ), Sen. Marco Rubio (R-FL), Sen. Richard Durbin (D-IL), Sen. Chuck Schumer (D-NY), Sen. Bob Menendez (D-NJ), Sen. Lindsey Graham (R-SC), and Sen. Michael Bennet (D-CO), also known as the Gang of Eight, listen during a news conference on immigration reform April 18, 2013 on Capitol Hill in Washington, DC. The senators discussed the 'Border Security, Economic Opportunity, and Immigration Modernization Act'. (Photo by Alex Wong/Getty Images)
WASHINGTON, DC - APRIL 18: U.S. Sen. John McCain (R-AZ) (2nd L) speaks as (L-R) Sen. Jeff Flake (R-AZ), Sen. Marco Rubio (R-FL), Sen. Richard Durbin (D-IL), Sen. Chuck Schumer (D-NY), Sen. Bob Menendez (D-NJ), Sen. Lindsey Graham (R-SC), and Sen. Michael Bennet (D-CO), also known as the Gang of Eight, listen during a news conference on immigration reform April 18, 2013 on Capitol Hill in Washington, DC. The senators discussed the 'Border Security, Economic Opportunity, and Immigration Modernization Act'. (Photo by Alex Wong/Getty Images)

By DAVID ESPO AND ERICA WERNER, THE ASSOCIATED PRESS

WASHINGTON — The Congressional Budget Office says a sweeping immigration bill before the Senate would cut deficits by $197 billion over 10 years.

The bill would add $262 billion in new spending and tax credits over 10 years, a sum more than covered by $459 billion in increased revenues, according to the report Tuesday by Congress' nonpartisan scorekeepers.

The bill would cut deficits by an additional $700 billion in the second 10 years after taking effect, CBO says.

Some 8 million people in the U.S. illegally would initially gain legal status under the legislation, according to the CBO analysis. That's compared with a population of about 11 million immigrants now in the country illegally.

Before You Go

"Gang Of Eight"

Bipartisan Immigration Plan's Key Provisions

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