Texas Tribune by Julian Aguilar
Granting legal status and paving the way to citizenship for an estimated 2.1 million undocumented immigrants in the U.S. would generate approximately $329 billion in economic impact by 2030, according to a report released Monday. The study also says that Texas itself would see an impact of $66 billion.
The report, a joint effort by the progressive Center for American Progress and the Partnership for a New American Economy, estimates that passing the DREAM Act, which would allow certain undocumented immigrants brought to the country at a young age to work and apply for residency, would generate that revenue total through a combination of wages, tax contribution and increased spending.
“The $148 billion in higher earnings that result from DREAMers being able to work legally and achieve greater education leads to increased spending on goods and services such as houses, cars and computers,” said Juan Carlos Guzmán and Raúl C. Jara, authors of the report. “This spending ripples through the economy, supporting another $181 billion in induced economic impact, the creation of 1.4 million new jobs, and more than $10 billion in increased revenue.”
Texas would see 282,500 additional jobs, along with $1.91 billion in combined income and business tax revenue, according to the report.
The estimates in the study were derived using data from the U.S. Census Bureau’s American Community Survey data compiled from 2006 to 2010, and the Pew Hispanic Center estimates on undocumented youths, including age, sex and ethnicity to calculate earning potential, Guzmán told reporters during a conference call. He said that the estimates are conservative because the center used economic data available during the peak of the country’s recession.
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Posted by: Brent Sigman | 10/05/2012 at 01:09 AM