The House Judiciary Committee has postponed the scheduled markup of H.R. 5992, the “American Job Creation and Investment Promotion Reform Act” which was originally scheduled for Wednesday September 14th. The committee has yet to announce when the markup is re-scheduled for.
A markup is the key formal step a committee takes for a bill to advance to the floor (read more about markup process here). The 125-page bill delves into nearly every aspect of the EB-5 Regional Center Program.
IIUSA’s Statement on the American Job Creation and Investment Promotion Reform Act
We applaud Chairman Goodlatte’s support for the EB-5 economic development program and welcome the opportunity to offer input on these complex and important issues. The new provisions in this proposal will take time for stakeholders and lawmakers in the House and the Senate to examine and the shutdown deadline is fast approaching. If the program lapses, a minimum of $11 Billion in community investment and 220,000 local jobs will disappear immediately, so we urge Congress to reauthorize the program as we continue to work for important reforms.