Blog Smith is inspired by the myth of Hephaestus in the creation of blacksmith-like, forged materials: ideas. This blog analyzes topics that interest me: IT, politics, technology, history, education, music, and the history of religions.
Thursday, June 20, 2013
Immigration Bill According to the CBO: American wages will fall for 12 years, immigration bill aids investors, not wage earners
WASHINGTON, June 20--Speaking on the Senate floor this week, Ranking Member Sessions highlighted the Congressional Budget Office's new estimate of the fiscal and economic impact of the Gang of Eight immigration bill. The CBO report plainly stated: "Taking into account all of [the] flows of new immigrants, CBO and JCT expect that a greater number of immigrants with lower skills than with higher skills would be added to the workforce, slightly pushing down the average wage for the labor force as a whole... However, CBO and JCT expect that currently unauthorized workers who would obtain legal status under S. 744 would see an increase in their average wages... [An] increase in the average wage would not occur for a dozen years."
Sessions reacted: "This is supposed to be good for the people we represent? ... This will add to [our] problems, this report says, quite clearly—unequivocally. It's going to increase unemployment and it's going to pull down wages. That is exactly the wrong thing that ought to be happening at this time. How in the world can we justify passing a bill that hammers the American working man and woman that's out trying to feed a family?"
