Immigrants generated about $1.7T in economic activity in 2023 and paid roughly $652B in taxes.

US immigrants pay billions of dollars in taxes each year

While immigrants who are authorized workers pay taxes just like anyone else, even unauthorized workers file tax returns. These unauthorized workers use individual taxpayer identification numbers.

The share of the immigrant population in the US peaked at nearly 16% in January 2025

In January 2025, the US reached a historic high of 53.3 million immigrants—nearly 16% of the population. By June of that year, the number had fallen by more than a million, ending 50 years of continuous growth in the immigrant population.

US immigrants shifted from primarily originating in Ireland and Germany to Mexico and India.

Studies link H-1B workers to patents, innovation, and productivity growth in the US

Research shows that H-1B visa holders boost innovation: Firms that employ many H-1Bs file more patents. Economists estimate that foreign STEM workers helped explain 30% to 50% of nationwide productivity growth from 1990 to 2010, while immigrant inventors disproportionately generated high-value patents.

Studies show immigrants commit crimes at lower rates than native-born Americans

Research examining incarceration records and crime data generally finds that immigrants—including undocumented individuals—have lower crime and incarceration rates than US-born citizens, though measurement is limited by gaps in national data on immigration status.

Track the changes in US immigration law throughout history

This interactive timeline tracks the development of US immigration law, overlaid with time-series data on percentages of the foreign-born population. Explore how each major policy development correlated with immigration levels, revealing the relationship between legislation and demographic change.

Study shows H-1B visas depress wages and reduce consumer tech costs

A paper from the National Bureau of Economic Research found that without H-1B workers, American computer scientists would earn 2.6% to 5.1% more and domestic employment could rise by 11%, but consumers would pay more for advanced technology, and output would decrease.

Some argue that restricting illegal immigration would raise wages for lower-income American workers

The Heritage Foundation argues that illegal immigrants' willingness to work for below-market wages suppresses wages for low-skilled American workers—and that reducing illegal immigration would increase wages and job opportunities, particularly for workers without a college degree.

The US restaurant industry generates over $1T in sales

In 2024, the industry brought in $1.1T, and the National Restaurant Association anticipated reaching $1.5T in 2025, numbers that are considered a return to normal after the tumultuous years of the COVID-19 pandemic. The industry also employs a large workforce, with over 13 million employees. (Some readers may experience a paywall.)

About one dollar in every six that are owed to the federal government aren't paid each year

That adds up to close to $1T in what's known as the "tax gap." Read a breakdown on the main drivers of tax evasion (distinct from legal tax avoidance) in the US.

Trump's H-1B fee hike could reshape US industries and global talent flows

Analysts warn the new H-1B fee could trigger labor shortages in tech, medicine, and universities; push firms to offshore more work; and drive skilled Indian workers and students toward other countries—weakening America's innovation edge.

Advertising-related activity may have supported roughly one in five American jobs as of 2024

That’s according to a study commissioned by The Advertising Coalition, conducted by S&P Global Market Intelligence, which also found that the advertising industry powered more than 20% of total US economic output at the time.

In 2025, American tech companies will spend $300B to $400B on AI

That is, in nominal dollars, more than any group of companies has ever spent to do anything. Notably, these companies are not remotely close to earning $400B on artificial intelligence.

Individual income taxes are the federal government's primary revenue source, see a tracker that breaks down where the rest of the budget comes from

The US government historically makes nearly half of its total revenue last year from individual income taxes. But the US makes also makes money from a variety of other sources, including Medicare taxes and corporate income taxes. However, the federal government has run a deficit since 2001—reaching a peak of $3.13T in 2020.

Consumers will use digital payment processing for nearly $40T in spending by 2028

That's just one signal of the industry's massive growth. Investments in the global fintech industry have grown from $4B in 2010 to $92.3B in 2021, as both businesses and consumers seem to quickly adopt new fintech products, from digital payment apps to robo-advisers.

US Tariff revenue rose to $264B in 2025—More than double that of recent years

In April 2025, President Donald Trump announced tariffs on countries across the globe, raising them to unprecedented levels in modern American history. The increase in tariff rates led to a significant rise in tariff revenue.

NASA economic impact (and budget history)

It's estimated that for every dollar NASA spends on its programs, $8 is produced in US economic growth. With a 2023 budget of roughly $25 billion, that means NASA helped create $200 billion in economic value. The administration's investments pay off so massively due to the technologies it develops, many of which become commercially appealing. Dive into the economic impact of NASA's development here.

Ranking the world’s economies: 1980 vs. 2025

The US remains the world’s largest economy, having increased its annual gross domestic product from $2.9T in 1980 to $30.6T in 2025. In 1980, China ranked seventh globally with a GDP of $304B. In 2025, China ranked second with a GDP of $19.4T.

The overall economic effect of President Trump's 2025 tariffs remains unclear

Researchers from UCLA and Yale found that tariff revenue and gains to US producers largely offset importers' costs—but the broader picture is murkier, as the trade deficit rose, manufacturing jobs declined, and 90% of tariff costs were passed through to importers rather than absorbed by foreign exporters.

A timeline of US immigration laws

The United States began regulating immigration soon after it won independence from Great Britain, and the laws since enacted have reflected the politics and migrant flows of the times. Here's a timeline of key immigration laws from 1790 to 2014, according to the Pew Research Center.

The 2025 budget bill significantly increased ICE's budget and role in federal law enforcement

The 2025 'Big Beautiful Bill' allocated $170B to immigration and border enforcement for use through 2029. ICE's nearly $100B share includes substantial increases in detention capacity and operational scope. The increased funding will make ICE the most heavily funded federal law enforcement agency.

Visualizing the world's wealth in 2019

The world has a net worth of $360T. The U.S. economy continues to dominate given its sheer size, Asia and Europe are not that far behind.

Visa overstays account for nearly 40% of illegal US entries

In fiscal year 2023, approximately 510,000 people overstayed their visas, while 860,000 crossed the border illegally, meaning overstays accounted for 37% of the total number of new unauthorized arrivals. This represents a shift from 2007 to 2018, when overstays outnumbered border crossings, to 2019, when illegal crossings surged again.

Americans between the ages of 45 and 55 pay nearly 30% of all income taxes, paying an average tax rate of around 17%.

40% of Americans have ancestors who immigrated via Ellis Island

For over 60 years, Ellis Island was the gateway to America, processing millions of immigrants seeking a new life. While many passed through with ease, others faced rigorous medical exams, legal scrutiny, and even deportation. Learn how this small island shaped generations of American families.

In 2024, Americans bought over $7B of cut flowers

That's more than any other country in the world. Most of the flowers Americans purchase are imported, creating an economy that's both booming and reliant on dwindling natural resources.

Use this calculator to find out what your federal income taxes pay for

In the fiscal year 2024, the US federal government's biggest spending priorities included $1.5T on Social Security, $877B on national defense, and $874B on Medicare. This calculator from the Microsoft AI for Good Lab can help you estimate how your tax dollars are allocated across $6.8T in federal spending.

Americans are projected to inherit $105T over the next 30 years

Today, someone's financial standing has more to do with their families than any other outside factor. Of the more than $100T of projected inheritance, that money is concentrated among a few wealthy estates and families.

Studies show H-1B workers help address shortages in STEM fields

Research finds that unemployment rates in occupations employing large numbers of H-1B workers remained low between 2004 and 2023, even during the pandemic. Other studies suggest H-1Bs complement US workers in STEM fields and expand job opportunities.

Government shutdowns can cost the US economy billions

The Congressional Budget Office estimated that the 2018-19 shutdown reduced economic output by about $11B, including a permanent loss of roughly $3B

Track how American tariffs have impacted different countries and industries.

The US federal government employs roughly 3 million people

Tracking began in 1939, when the federal workforce consisted of about 1 million people. The total peaked in 1990 at 3.4 million, and hit a recent low in 2014 at 2.7 million.

US holiday retail sales reached $973B in 2024

In 2024, US holiday retail sales reached $973B—nearly one-fifth of annual sales. Many companies depend on this season to bolster revenues.

Nearly 400,000 H-1B applications were approved in 2024

In 2024, nearly 400,000 H-1B petitions were approved, with about 65% of them renewals for existing workers. Roughly 70% of recipients were born in India, and nearly two-thirds of all H-1B jobs were in computer-related fields.

Explore the "winners and losers" of the Trump administration's H-1B visa fee

In this episode, experts discuss the rationale behind the new $100K fee, citing concerns about abuse of the H-1B program. Some economists warn that it could spur offshoring, reduce innovation, and create ripple effects on wages and talent supply.