On Tuesday evening, the CBO estimated that the Gang of Eight’s bill would reduce the deficit by $197 billion over the next 10 years and reduce the deficit an additional $700 billion during the second decade of its implementation.

“This legislation is good for the economy and good for security,” Reid said. “That’s a good package.”

The Senate is considering the Border Security, Economic Opportunity, and Immigration Modernization Act. Amendment work on the bill is expected to continue throughout this week. Reid has said he wants to complete work on the bill by the July 4th recess.

The bipartisan group of eight senators, known as the Gang of Eight, introduced S. 744, which would create a pathway to citizenship for illegal immigrants already in the country, toughen border security, create a guest worker program and boost high-skilled immigration.

Reid said the Senate should pass the bill next week because “immigration reform isn’t just an economic issue, it’s a moral issue.”

Sen. Jeff SessionsJefferson (Jeff) Beauregard SessionsFederal judge rules Trump defunding sanctuary cities 'unconstitutional on its face' FBI informant gathered years of evidence on Russian push for US nuclear fuel deals, including Uranium One, memos show Alabama election has GOP racing against the clock MORE (R-Ala.) has complained that the CBO’s scoring isn’t accurate, adding that the bill would cost U.S. workers jobs and burden taxpayers because eventually immigrants would be allowed to use welfare benefits.