- Over that period, immigrants created a cumulative fiscal surplus of $14.5 trillion in real 2024 US $, including $3.9 trillion in savings on interest on the debt. Without immigrants, US government public debt at all levels would be at least 205% of gross domestic product—nearly twice its 2023 level.
- The US immigrant population generated more in taxes than they received in benefits from all levels of government every year from 1994 to 2023. The Cato study provides the first-ever 30-year analysis of the fiscal effects of immigration on government budgets. www.cato.org/white-paper/...
