Immigration reform will help Social Security

Immigration reform will help Social Security

The analysis shows that the proposed legislation would have a beneficial effect on the Social Security program’s finances – extending the date of exhaustion of trust fund reserves from 2033 to 2035; increasing the percent of benefits payable after exhaustion to 79%; and reducing the actuarial deficit from 2.72% to 2.51% of taxable payrolls. The reason is that the proposed reform would bring millions of new workers into the Social Security system, which would increase its payroll tax revenues.
Specifically, the Senate bill would do the following: