Trump’s immigration crackdown could cost up to $479bn in lost taxes over 10 years
The Trump administration's immigration crackdown is projected to result in a loss of up to $479 billion in tax revenue over the next decade, as undocumented workers are deterred from filing taxes due to increased enforcement and proposed data sharing between the IRS and immigration authorities. Tax advisers indicate that the removal of tax benefits for immigrant parents further discourages tax filing among this population.
WPN Brief
- What Happened
The Trump administration's immigration crackdown is projected to result in a loss of up to $479 billion in tax revenue over the next decade, as undocumented workers are deterred from filing taxes due to increased enforcement and proposed data sharing between the IRS and immigration authorities. Tax advisers indicate that the removal of tax benefits for immigrant parents further discourages tax filing among this population.
- Why It Matters
This development is significant as it highlights the potential economic impact of immigration policies on tax revenue, suggesting that stricter enforcement could lead to a substantial decrease in contributions from undocumented workers, ultimately affecting public services and the economy at large.