Why Passing the DREAM Act Would Benefit the Economy
- Time4:59 pm
- aldobelloaldobello
- blog The DREAM Act
There has been a lot of controversy surrounding passage of the DREAM Act. Many arguments have been made from both sides of the political spectrum regarding how the United States should deal with the issue of immigration. But aside from the political and social consequences of implementing legislation that would offer a select group of immigrants the opportunity to gain a path to citizenship, the DREAM act would create several economic opportunities for the country by providing more taxable income, saving taxpayer money and increasing revenue for higher learning organizations. Here’s how…
1. Passing of the DREAM Act would result in more taxable income
– The DREAM Act would provide its beneficiaries access to higher levels of education, which would result in access to better jobs and thus more taxable income.
– Education is a key factor of the DREAM Act, as this will be one of the primary engines that drive and determine whether or not the DREAMers are allowed to stay in the country. The two-year college attendance requirement will allow the beneficiaries of the DREAM Act to become active members of the U.S. economy. An individual with a bachelor’s degree earns approximately $750,000 more over the course of their lifetime than an individual with a high school degree, according to a study from Arizona State University.s more taxable income.
– The earnings of the DREAMers over the course of their lives would amount to $1.4 trillion – $3.6 trillion according to a study by UCLA’s North American Integration and Development Center.
– Workers with a high-school diploma earn around $419 per week. On the other hand, workers with a bachelor’s degree earn around $962 per week according to the United States Department of Labor.
2. The Dream Act would save taxpayer money
– According to a 1999 RAND Study, raising the college graduation rate of Hispanics to that of non-Hispanic whites would increase spending on public education by 10 percent nationwide, but the costs would be more than offset by savings in public health and benefits, as well as by increased tax revenues resulting from higher incomes.
– Better educated individuals will not only have access to jobs that will result in greater contributions to the tax pool, but they will presumably lead lifestyles that will decrease their need to use public health services and government unemployment benefits.
3. The Dream Act would increase revenues of higher learning organizations
– The 10 states that have allowed undocumented students to qualify to pay in state tuition since 2001 (Texas, California, Utah, Washington, New York, Oklahoma, Illinois, Kansas, New Mexico, and Nebraska), have seen a rise in revenues as higher numbers of undocumented students enroll in school and begin to pay tuition.
According to the nonpartisan Congressional Budget Office all of these benefits combined would cut the deficit by $1.4 billion and increase government revenues by $2.3 billion over the next 10 years.
Sources:
– The Dream Act: Good For Our Economy, Good for Our Security, Good For our Nation. http://www.whitehouse.gov/sites/default/files/DREAM-Act-WhiteHouse-FactSheet.pdf
– The DREAM Act: Creating Economic Opportunities
http://www.immigrationpolicy.org/just-facts/dream-act-creating-economic-opportunities