On Friday September 8th, President Trump signed H.R. 601 that will provide funding for the federal government and extend the EB-5 Regional Center Program until December 8th.
IIUSA Statement on the Extension
IIUSA appreciates the inclusion of the EB-5 Regional Center Program in the latest stopgap continuing resolution (CR) and urges leaders in Congress to reach a permanent legislative solution prior to December 8.
The EB-5 Program – responsible for providing our communities with $20 billion in low-cost development capital since the Great Recession of 2008 – transcends politics. Should lawmakers allow the program to lapse, $13.7 billion in EB-5 investment already committed would no longer be available to support hundreds of thousands of American jobs, contribute $48.5 billion to U.S. GDP, and generate $11.9 billion in tax revenues.
While the legislative calendar has changed, IIUSA’s steadfast commitment to reforming and reauthorizing the EB-5 Program is stronger than ever. As we prepare for the December deadline, our team will continue to work tirelessly with Congressional negotiators in the fight for this critical American job-creation program.