Immigrants were fiscally positive throughout their working years, regardless of educational attainment

Net fiscal flows by age, federal, state, and local (legal and illegal immigrants), 1994–2023

Download image
Sources: Bier, David J., Michael Howard, and Julián Salazar. “Immigrants’ Recent Effects on Government Budgets: 1994–2023,” White Paper, Cato Institute, Washington, DC, February 3, 2026; Calculations are based primarily on the Annual Social and Economic Supplements of the US Census Bureau’s Current Population Survey for March 1994–2023; and “National Data: National Income and Product Accounts,” Bureau of Economic Analysis, last revised September 2025. See Appendix for full details.
Notes: Ages use three-year averages. All amounts are in inflation-adjusted 2024 dollars.