The bill would increase spending by $262 billion between 2014 and 2023, but would increase revenue by $459 billion, according to the non-partisan office.

In the next decade, it would reduce the deficit by $700 billion, CBO said.

The CBO score could give the bill a significant boost as the Senate tries to clear it before the July 4 recess. Supporters are hoping for a strong vote in order to put pressure on House Republicans to pass a bill this year.

The bill requires increased spending on border security and ultimately would provide a path to legal residency and possible citizenship for the nation’s estimated 11 million illegal immigrants. That status would allow immigrant to tap into federal entitlement benefits but they would start paying taxes for the first time as well.