President Obama will announce a new immigration policy today that will allow some undocumented youths to avoid deportation and receive work permits to remain in the United States. Students in the U.S. who are in deportation proceedings or those who would have qualified for the DREAM Act and have yet to come forward to Department of Homeland Security officials will not be deported and will be allowed to work in the United States.
Though exact details of the plan are still unclear, it could benefit as many as one million undocumented students living in the country, and it will almost certainly have tangible benefits for the long-term health of the American economy.
The Congressional Budget Office (CBO) estimated that the DREAM Act — which Republicans blocked in 2010 — would increase federal revenues by $1.7 billion over the next 10 years, reducing federal deficits by $2.2 billion over that time. DREAM-eligible students would generate between $1.4 and $3.6 trillion in taxable income over the course of their working lives, according to a study by UCLA’s North American Integration and Development Center.