Leading EB-5 trade associations/coalitions composed a letter to Senate and House Judiciary Committee Leaders and Members expressing support for extending the EB-5 and recommending reforms to enhance program integrity and effectiveness as a development tool. The EB-5 industry accounts for billions of dollars of investment and tens of thousands of American jobs annually. Stakeholders are encouraged with a copy of the letter.
Contents of the letter highlight support for:
- Industry measures
- Targeted Employment (“TEA”) Policy and Investment Level Difference
- Visa Capacity and Backlog Reduction
- Grandfathering/Transition Period
- Extension of the Regional Center Program
As the “sunset date” of September 30, 2016 approaches, the next few months are critical for the EB-5 industry. The goal is to keep EB-5 working for America for the long term.