Hot off the presses:



On balance, the economic impacts not included in the cost estimate would
have no significant net effect on federal budget deficits during the
coming decade and would reduce deficits during the following decade.
Taking into account a limited set of economic effects, the cost estimate
shows that changes in direct spending and revenues under the
legislation would decrease federal budget deficits by $197
billion over the 2014-2023 period and by roughly $700 billion over the
2024-2033 period. The cost estimate also shows that implementing the
legislation would result in net discretionary costs of $22 billion over
the 2014-2023 period and $20 billion to $25 billion over the 2024-2033
period, assuming appropriation of the amountsauthorized or otherwise
needed to implement the legislation. According to CBO's central
estimates (within a range that reflects the uncertainty about two key
economic relationships in CBO's analysis), the economic impacts not
included in the cost estimate would have no further net effect on budget
deficits over the 2014-2023 period and would further reduce deficits
(relative to the effects reported in the cost estimate) by about $300
billion over the 2024-2033 period.


*****


S. 744 would boost economic output. Taking account of all economic
effects (including those reflected in the cost estimate), the bill would
increase real (inflation-adjusted) GDP relative to the amount CBO
projects under current law by 3.3 percent in 2023 and by 5.4 percent in
2033, according to CBO's central estimates.



By the way, when some of the anti-immigrant folks try to discredit the Congressional Budget Office, consider this quote:


"I say all the time that CBO is God around here, because policy lives and dies by CBO's word." -- Sen. Chuck Grassley [3/6/2006]