EB-5 Reauthorization Deadline Quickly Approaching
Congress has returned to work from their summer recess. Discussions within the House and Senate judiciary and Appropriations Committees must take action. The EB-5 Regional Center Program may need to be included in a funding package for the federal government before the end of the month. The EB-5 reauthorization will need to be a part of the Continuing Resolution (“CR”) to avoid any lapse in the program, which would be detrimental to communities across the U.S. relying on critical foreign direct investment.
EB-5 must be reauthorized, without a lapse, to ensure job creation and investment in regional economic development projects for our communities. It is imperative that the industry continues to speak with a unified voice, declaring the positions of the joint industry letter.
As an industry that has come so far in the past year in its ability to build policy consensus from a diverse set of interests, it is imperative to continue to be heard. So stakeholders must speak out to be heard. IIUSA continues to work with diverse stakeholder groups that have grown more vocal to support EB-5 and will have a follow-up joint-letter from the industry to Congress to make sure Congress acts to protect the billions of dollars of ongoing economic activity on the line that supports an essential part of the U.S. economy.