America has always been a nation of immigrants, and throughout the nation's history, immigrants from around the globe have kept our workforce vibrant, our businesses on the cutting edge, and helped to build the greatest economic engine in the world. However, America's immigration system is broken and has not kept pace with changing times. Today, too many employers game the system by hiring undocumented workers and there are 11 million people living and working in the shadow economy. Neither is good for the economy or the country. It is time to fix our broken immigration system. The President has made clear that Democrats, Republicans, and Independents in Congress should work together to enact commonsense immigration reform that includes proposals to continue to strengthen border security, create an earned path to citizenship for undocumented immigrants, hold employers accountable, and bring our legal immigration system into the 21st century. Last month, the Senate passed historic legislation that is largely consistent with the President's principles for commonsense immigration reform with a strong bipartisan vote. The Senate's Border Security, Economic Opportunity and Immigration Modernization Act (S. 744) represents the best chance that our country has had in years to modernize our immigration system. The President urges the House of Representatives to take action and move this bill or similar legislation forward, and stands willing to work with all parties to make sure that commonsense immigration reform becomes a reality as soon as possible. This report outlines the key benefits to the U.S. economy of passing commonsense immigration reform.