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  • Narrator: You've probably heard lots of talk

  • about fixing our nation's broken immigration system

  • over the past few months,

  • and maybe you're wondering how immigration reform

  • will affect American jobs and our economy.

  • Well, the Congressional Budget Office --

  • an independent, nonpartisan group of number crunchers

  • that both Democrats and Republicans trust

  • to estimate the cost of any proposed law --

  • looked into it.

  • And they found that fixing America's

  • broken immigration system

  • would be a pretty big boost for the economy.

  • These experts say that the Senate's

  • bipartisan immigration reform bill

  • would grow the economy, create jobs,

  • and cut the deficit.

  • In fact, they estimate that if immigration reform

  • were passed this year,

  • it could help boost our nation's gross domestic product, or GDP,

  • by more than 5 percent, or $1.4 trillion, in 2033.

  • Let's take a look at how they get to a number like that.

  • Our country already attracts the best and brightest

  • from around the world,

  • from budding entrepreneurs

  • to highly skilled and other hardworking immigrants

  • to students seeking graduate degrees.

  • But the current broken system often prevents them --

  • and their ideas --

  • from staying in the U.S.

  • Immigration reform will make it easier for entrepreneurs

  • to come here and start businesses,

  • creating good jobs for American workers.

  • Reform will make it easier for highly skilled immigrants

  • and those educated in U.S. colleges and universities

  • to work right here in America,

  • developing the new technologies and innovative processes

  • that make our economy more productive and more competitive.

  • And a highly skilled workforce and a more productive economy

  • increases the rate of return for businesses and companies

  • who invest in the United States of America,

  • and that leads to more investment in the future.

  • Now, here's where it gets a little wonky.

  • Taken together, more entrepreneurs

  • and skilled workers,

  • plus higher productivity,

  • plus increased investment in the U.S.,

  • would increase real GDP by 3.3 percent by 2023

  • and 5.4 percent by 2033 --

  • a real increase of roughly $700 billion

  • in our economy in 2023

  • and $1.4 trillion in 2033.

  • That's a lot,

  • all thanks to reforming our broken immigration system.

  • There are other benefits to immigration reform.

  • Immigration reform will boost demand for goods and services,

  • which, in turn, means more demand for labor,

  • and that means more jobs for American workers.

  • Fixing our immigration system would also mean that everyone,

  • especially those employers

  • who are paying their employees under the table,

  • will play by the same set of rules

  • and pay the same taxes that everybody else pays.

  • The amount of money these workers and employers

  • will pay in taxes will reduce our deficit --

  • the difference between what the government receives

  • and what it spends --

  • by nearly $850 billion over the next two decades.

  • So the facts are clear.

  • The economic case for immigration reform is strong,

  • and folks all across the ideological spectrum

  • and all over the country --

  • Democrats and Republicans,

  • labor unions and business leaders,

  • economists of all stripes -- agree.

  • The good news is,

  • Democrats and Republicans came together in the Senate

  • to pass an immigration reform bill.

  • But now it's time for the House to act

  • so President Obama can sign the bill into law.

  • Only then will we see the deficit reduction,

  • the innovation, and the economic growth

  • that immigration reform promises.

  • If you've found this video helpful,

  • please share it far and wide with your friends.

  • Thanks for watching.

Narrator: You've probably heard lots of talk

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White House White Board: Why Immigration Reform Is Good For Our Economy

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    VoiceTube posted on 2013/07/13
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