EB-5 Program News
“House Introduces Two-Week Continuing Resolution to Extend Vital Programs such as EB-5, on Dec. 6, the House passed H.J. Res 143 – FY 2019 Continuing Resolution Through December 21, 2018, by unanimous consent. The measure proceeded to the Senate and was approved by unanimous consent approximately one-hour after passing the House.
Today, around 10 a.m., the House Appropriations Committee announced on Twitter that the President had signed the CR into law.”
“Kathy Nuebel Kovarik, Chief of the USCIS Office of Policy and Strategy, delivered a keynote address to kick off IIUSA’s 11th Annual EB-5 Advocacy Conference in Washington, DC… Ms. Kovarik reinforced her department’s position that they will try to get EB-5 regulatory reform done this year, as indicated on the Unified Regulatory Agenda. Items of the regulation that she spoke about were the targeted employment area (TEA) designation and increases in investment amounts.”
Op-ed written by Bob Barr, former representative of Georgia’s Seventh District in the U.S. House of Representatives from 1995 to 2003.
“There is, however, one program that, over the course of its quarter century existence, has delivered consistently on its promise of bringing lawful immigrants to our shores as investors and job creators: the EB-5 visa program (“EB-5” is shorthand for the fifth category of employment-based immigrant visas).
Reauthorized repeatedly since its inception in 1990, the EB-5 program currently is again under consideration. The program works. It meets every positive criteria the administration has laid out for immigration reform. Reauthorizing and expanding the EB-5 visa program must be part and parcel of any DACA legislation or other immigration-focused legislation. Failure to do so should not be an option.”
“Congress passed and the President signed a short-term spending package that includes a clean extension of EB-5 until March 23, 2018.”
“Congress voted to end the government shutdown on Monday after three days of a shutdown. President Trump signed the measure, extending federal funding and authorization of the EB-5 Regional Center Program until February 8th. Regular processing of EB-5 petitions have resumed at all relevant agencies.
Congress still has work to do before February 8th. The new CR is the fourth continuing resolution of FY 2018, creating uncertainty for our industry and many others across the country. While Republican negotiators on EB-5 are closer than ever to finding agreement internally, there are still bipartisan negotiations that need to occur. With pending regulations that could raise investment levels by over 100% and a current potential posted final action date in February, Congressional leaders would likely be left with only 60 days after that final action date to produce a legislative solution in place of the regulations. IIUSA continues to advocate on behalf of the industry based on our grassroots-developed Policy Platform and will keep you updated on progress as it happens.”
Congress Passes Stopgap Spending Bill – Extends EB-5 Through January 19, 2018.
[On December 21st] “both the House and Senate passed a stopgap spending bill which will avert a government shutdown through January 19, 2018, pending signature by President Trump which is expected sometime today. This extends the current sunset date for the EB-5 Regional Center Program as well, which was supposed to expire at midnight tonight.
IIUSA remains in close conversations with the Congressional offices working on EB-5 reform legislation and we are hopeful that action will occur prior to the new sunset date in January. As always, we will keep you informed of any developments when they occur. A reminder that you can review IIUSA’s Policy Platform at anytime. This platform, developed and approved by our members and Board of Directors, guides the organizations conversations and positions around EB-5 reform. Please email@example.com with any comments or questions.”
“The EB-5 Investment Program is bigger than any one company or project; the most important part of the immigrant visa program is creating jobs for Americans. I’ve worked with EB-5 for nearly 10 years; job creation is the focus of the program I know.