American Dream & Promise Act (H.R. 6) Would Cost Taxpayers Billions
By Steven A. Camarota on June 21, 2021
The Congressional Budget Office (CBO) estimates that the net fiscal drain (new revenue minus new costs) from H.R. 6, the American Dream and Promise Act, would be $35.3 billion in just the first 10 years.
CBO found that spending would increase by $38.3 billion in the first 10 years after amnesty, while revenue would increase by only $5 billion, creating the $35.3 billion drain.
The net fiscal drain at the federal level — new revenues minus new expenses — created by H.R.6, was estimated at $35.3 billion by the CBO on March 18 of this year.1 Much of the costs come in the later part of CBO’s 10-year cost estimate window. For example, CBO estimates that the annual drain will be $6.3 billion in the tenth year of its cost estimate, compared to $1.6 billion in the second year. The rising cost of H.R. 6 over time is an indication that the fiscal deficit created by the legislation will persist well after the 10-year budgetary window CBO uses to create its fiscal estimates. Moreover, the CBO estimates do not include any costs at the state and local level. There is not much debate about the large size of the net fiscal drain that the bill would create. All of the CBO’s prior estimates of the Dream and Promise Acts separately also showed that the bills would add substantially to the federal deficit.
https://cis.org/Camarota/American-Dream-Promise-Act-HR-6-Would-Cost-Taxpayers-Billions
