Summary: Using PWBM’s dynamic model, we show the macroeconomic effects of Presidential candidate Biden’s immigration proposal. By 2050, GDP increases by 1.7 percent in 2050 relative to current law while GDP per capita stays the same. Please refer to our analysis of the estimate for more information.

Table 1. Economic Effects of the Biden Immigration Plan

Percent change relative to baseline

Year	GDP	Capital stock	Hours worked	Average hourly wage	Debt Held by the Public
2030	1.0%	0.6%	1.3%	-0.3%	0.0%
2040	1.5%	1.4%	1.7%	-0.2%	-1.0%
2050	1.7%	1.7%	1.8%	-0.1%	-1.6%

Table 2. Per Capita Economic Effects of the Biden Immigration Plan

Percent change relative to baseline on per capita basis

Year	GDP	Capital stock	Hours worked	Debt Held by the Public
2030	-0.1%	-0.4%	0.3%	-1.0%
2040	0.1%	0.0%	0.3%	-2.4%
2050	0.0%	0.1%	0.1%	-3.2%