Legislation introduced by Republicans in the Senate that wouldreduce the number of green cards would have the unintendedconsequence of expediting Social Security’s impending insolvency,according to new analysis from the Urban Institute.
The Reforming American Immigration for Strong Employment, orRAISE Act, would reduce the number of issued green cards by 41percent immediately, and gradually reduce the number until half areissued after 10 years. As is, about 1 million immigrants aregranted lawful status annually in the U.S.
The Institute's analysis says Social Security revenues would fall faster thanexpenditures under the policy, increasing unfunded obligations by13 percent, or $1.5 trillion, over the next 75 years.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
