Senate Passes a Continuing Resolution, EB-5 Included for Short-Term Extension

09.28.16 | Archived

eb5isworkingToday, September 28, the Senate passed a continuing resolution (CR) to fund the federal government through December 9. The House of Representatives is expected to take up and pass the measure with a scheduled vote at 11pm ET this evening. It would then be sent to the President’s desk for signature before the September 30 deadline.

The CR includes a short-term extension of the EB-5 Regional Center Program for the duration of the CR, giving the EB-5 industry until December 9 to deliberate reasonable and responsible reforms to the Program.

IIUSA commends the nation’s leaders to include this important economic driver to ensure together they can work with industry stakeholders to achieve long-term reauthorization of the EB-5 Program with necessary reforms.

We will be sure to update you once we hear that the CR is passed by the House and signed by President Obama.

Any questions on the above information can be directed to Ashley Sanislo Casey, Associate Director of Advocacy, at ashley.casey@iiusa.org or Nicole Merlene, Advocacy Coordinator, at nicole.merlene@iiusa.org