PRESS RELEASE: Niskanen Center Report Outlines Economic Benefits of RAC Act
WASHINGTON, D.C., August 10, 2017 – Today, the Niskanen Center released a report detailing the economic and fiscal effects of passing the Recognizing America’s Children (RAC) Act. The bill, introduced by Rep. Carlos Curbelo (R-FL26), establishes a pathway to citizenship for young immigrants who came to the United States under the age of 16—as long as they graduate with a degree, serve in the military, or maintain gainful employment.
The report indicates that passage of the RAC Act would increase the gross domestic product (GDP) by $79 billion over ten years, and create 115,000 new jobs.
“Potentially bringing millions of hardworking Americans out of the shadows to fully participate in the economy will boost economic growth and put our federal budget on a more sound footing,” said Karl Smith, director of economic research at the Niskanen Center.
The report concludes that removing RAC-eligible Dreamers would cost over $700 billion to the economy and would cost federal, state, and local governments $200 billion over ten years.
“If it wasn’t already clear that permanently protecting the Dreamer population is the right move socially and economically, our analysis of the RAC Act should help eliminate any lasting doubt.” said Kristie De Peña, senior immigration policy council for the Niskanen Center.
The Niskanen Center is a Washington, D.C.-based libertarian think tank that works to change public policy through direct engagement in the policymaking process.