In a speech – titled “Protecting Taxpayers, Promoting Innovation, Preserving Justice” – at the Newseum in Washington, DC on January 11 of this past week, Senator Patrick Leahy (D-VT), Chairman, Senate Judiciary Committee, outlined the Committee’s legislative agenda in the 112th Congress, which included the EB-5 Regional Center Program:
“…the Judiciary Committee can contribute to our economic recovery and the expansion of American jobs. We can strengthen programs like the EB-5 Regional Center Investment Program, which encourages foreign investment and job creation in our state and local economies.”
Newly seated VT Governor Peter Shumlin (D) and Senator Leahy will be working together to ensure that the EB-5 Regional Center Program continues to be an important tool of economic development and job creation in the state. In a January 6 press release, Governor detailed their coming work together, with the following highlights:
“Senator Leahy will press forward with new efforts to ensure the continued success of the EB-5 Regional Center Program. ”
“Senator Leahy will continue to champion the permanent authorization of the EB-5 program.”
What a privilege it is to have the honorable Senator from VT as the self-professed “champion” of the EB-5 Regional Center Program. This foreign direct investment (FDI) program requires the certainty and predictability that only permanent authorization can offer. Investor confidence in the Program dependent on this level of certainty. It will allow the EB-5 Regional Center Program to compete for capital with the other immigrant investor programs around the world (Canada, UK, Australia, New Zealand…to name a few).
Lastly, congratulations to Senator Leahy, who was just sworn in to serve his seventh term as a U.S. Senator.