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H.R. 2131, Supplying Knowledge-based Immigrants and Lifting Levels of STEM Visas Act (SKILLS Visa Act) 1 (March 12, 2014)

handle is hein.congrec/cbo1564 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE March 12, 2014 H.R. 2131 Supplying Knowledge-based Immigrants and Lifting Levels of STEM Visas Act (SKILLS Visa Act) As ordered reported by the House Committee on the Judiciary on June 27, 2013 SUMMARY H.R. 2131 would amend immigration laws to increase the number of highly skilled noncitizens who could receive employment-based immigrant (permanent) and nonimmigrant (temporary) visas to live and work in the United States. In addition, H.R. 2131 would change the numbers of family-based immigrant visas available to certain categories of noncitizens. The bill also would eliminate the immigrant visas made available through the Diversity Visa program. On net, CBO estimates that enacting H.R. 2131 would increase the U.S. population by nearly 1 million in 2024 and in 2034. Budgetary Effects, 2014-2024 CBO and the staff of the Joint Committee on Taxation (JCT) estimate that enacting H.R. 2131 would increase revenues by $118 billion over the 2014-2024 period. That increase, largely reflecting additional collections of income and payroll taxes, would result primarily from an expansion in the size of the U.S. labor force. CBO and JCT estimate that enacting H.R. 2131 also would increase direct spending by $8 billion over the 2014-2024 period. Most of those outlays would be for increases in refundable tax credits stemming from the larger U.S. population under the bill. On balance, CBO and JCT estimate that enacting H.R. 2131 would reduce budget deficits through the changes in revenues and direct spending by about $110 billion over the 20 14-2024 period. Pay-as-you-go procedures apply to the bill because it would affect direct spending and revenues. CBO estimates that implementing the bill also would affect spending subject to appropriation. CBO expects that the Department of Homeland Security (DHS) and the Department of State would require about $50 million over the 2015-2019 period to begin processing the increased number of applications for visas resulting from the bill. Additionally, the bill would increase discretionary costs for the Pell Grant program by

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