The Congressional Budget Office (CBO) released an analysis Thursday which found the Democrats’ amnesty bill would cost $35 billion over ten years.
The Dream and Promise Act would grant amnesty to several million illegal immigrants that allegedly were brought to the United States as children by their illegal immigrant parents. The legislation would also deliver green cards to hundreds of thousands of foreigners who were given Temporary Protected Status (TPS) or Deferred Enforced Departure status.
The Migration Policy Institute (MPI) found the legislation could grant amnesty to roughly 4.4 million illegal aliens of the 11 to 22 million illegal aliens living in the United States.
Democrats, and some Republicans, voted for the legislation as roughly 17 million Americans remain unemployed due to the coronavirus pandemic.
The legislation passed through the House Thursday evening with 228 votes in favor of the bill and 197 votes against. Nine House Republicans voted in favor of the Democrat amnesty bill.
The CBO released its estimate of the Dream Act and found it would cost $35.3 billion over the next ten years.
The nonpartisan agency found that the primary cost of the amnesty would arise from illegal immigrants obtaining eligibility for the Affordable Care Act (ACA) and Medicaid tax credits, as well as the earned income and child tax credits. In contrast, the federal government would only receive slight revenues from migrants receiving lawful permanent resident (LPR) status by charging them corporate income and Medicare taxes, and the non-refundable portion of tax credits for health insurance.
The federal government would also expect additional costs from those with LPR status from obtaining eligibility for Social Security benefits, while only receiving slight revenues from Social Security payroll taxes.
Overall, the Dream and Promise Act would cost $42.48 billion and bring in revenues of $7.15 billion, meaning it would cost $35 billion over ten years, or 2031.