According to a report from the Center for Immigration Studies, tax credits received by illegals and wage write-offs U.S companies claim, have cost the Treasury $296 billion over the past 10 years!
According to the Center for Immigration Studies, the lost taxes bill is about $30 Billion Annually. Which is more than enough to fund the average middle-income tax cut the Trump administration is considering, around $300.
This comes on top of wage losses to legal workers of an astonishing $118 billion when companies decide to illegally hire undocumented aliens, said the Center for Immigration Studies.
The massive financial blow to Americans and the Treasury could see an impact to President Trump’s bid in tackling illegal immigration and boost jobs and wages for Americans.
Not only that, it is part of the administration’s consideration of continuing DACA, a program that has given legal status to over 800,000 young adults, many of whom are currently employed in the U.S.
The new “backgrounder” from the notable immigration reform group has urged changes in the tax code, it will be a top Trump, and GOP congressional agenda item when the House and Senate return to Washington next week.
Center for Immigration Studies specifically targets the wages paid for illegal immigrants that companies write off as operating expenses and the child tax credits illegals can receive through an IRS loophole.
“The economic rewards of unauthorized employment of aliens are not limited to the higher wages of the illegal workers and the lower labor costs of their employers. Unauthorized alien workers and their employers also enjoy multi-billion dollar tax deductions and tax credits that were enacted into law for the benefit of law-abiding workers and businesses,” said the report.
The report from the Center for Immigration Studies estimates the wage write-off at $25 billion a year, or $254 billion over 10 years. The tax credit loss is estimated at $4.2 billion a year.
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