Gang of Eight: Immigration reform bill won’t add to the nation’s deficit

The Gang of Eight offered a substitute amendment to the bill on May 9 that increased its implementation funding by $900 million.

“Our watchword here is to have this bill pay for itself. In other words, we do not want it to incur any costs to the taxpayer, the Treasury or anybody else. That will be a balance. It will be the costs of administering the E-Verify program and the exit-entry visa program, the costs of strengthening the border and the costs of just administering the new immigrants who will be coming here,” Sen. Charles Schumer (D-N.Y.), the lead sponsor of the legislation, told colleagues during the Judiciary Committee’s markup.

Schumer said the legislation would create a trust fund to fully reimburse the Treasury as much as $7.5 billion in implementation costs.

Sen. Lindsey Graham (R-S.C.) also said he expects a CBO score to come out in the next few weeks showing the bill is deficit neutral.