The EB-5 program has long been a critical pathway for foreign investors seeking to participate in the U.S. economy. Over the years, the program has been nurtured and refined through the efforts of various stakeholders, with Invest in the USA (IIUSA) at the forefront. Here, we provide a comprehensive update on IIUSA’s advocacy initiatives since stakeholders from around the globe met at the EB-5 Industry Forum in San Diego this past May.
Congressional Advocacy Fly-Ins
Following the EB-5 Industry Forum, the IIUSA Leadership Circle returned to Washington, D.C. in July for its third advocacy fly-in of the year. In a single day, IIUSA leadership met with fifteen House and Senate offices. Although meeting specifics varied, they had in common a critical theme: members of Congress appreciate the value of the EB-5 program, and they are eager to safeguard, expand, and improve it.
The July fly-in follows previous fly-ins held in February and April, and a fourth fly-in is scheduled for October in conjunction with the IIUSA Leadership Summit. These events are significant undertakings, requiring the coordination of dozens of schedules and significant preparation to ensure informative, productive meetings. IIUSA maintains constant contact with Congress, and the resounding success of the advocacy fly-ins reflects that work.
Additionally, the IIUSA PAC made a contribution to Representative Maria Salazar (R-FL) whose Dignity Act aims to overhaul the entire U.S. immigration system and includes positive impacts on the EB-5 program. IIUSA leadership was joined at dinner by Rep. Salazar’s chief of staff, Tom Moran, who was eager to learn more about the EB-5 program, from its successes to its challenges. Mr. Moran affirmed Rep. Salazar’s support for the program and her desire to help realize its full potential.
The contribution to Rep. Salazar follows earlier contributions made to – and conversations had with – Representatives Greg Stanton (D-AZ) and Brian Fitzpatrick (R-PA). To learn more about the IIUSA PAC, and how you can help, contact Aaron Grau.
The White House
Perhaps the most significant achievement post-Industry Forum was IIUSA’s meeting with Betsy Lawrence, Deputy Assistant to the President for Immigration. This engagement was instrumental in addressing inefficiencies and inconsistencies in the EB-5 industry, notably the gap between the EB-5 Reform and Integrity Act’s intent and its implementation by the U.S. Citizenship and Immigration Services (USCIS).
As a testament to the efficacy of the meeting, IIUSA received outreach from the USCIS Ombudsman’s Office, which has offered to address the identified challenges regarding USCIS operations.
Challenges and Solutions
While advocacy is never without its hurdles, IIUSA has adeptly managed its post-forum initiatives without significant impediments. IIUSA’s education and advocacy efforts have facilitated not only White House and Capitol Hill meetings but also fostered ties with the National Coalition for State Legislatures and the National Governor’s Association.
In a Nutshell: Recent Blog Posts
FLORIDA ADOPTS CONTROVERSIAL LAW LIMITING LAND OWNERSHIP AMONG FOREIGN NATIONALS:
Florida enacts a contentious law restricting land ownership by foreign nationals; however, EB-5 is assuredly exempt.
USCIS DEFERS FILING FEE INCREASE TO EARLY 2024:
USCIS delays the anticipated filing fee hike, now expected in early 2024.
RCBJ PERSPECTIVES: I-829X – A PROPOSAL FOR PROJECT APPROVALS FOR JOB CREATION COMPLIANCE:
Proposal I-829X introduced, focusing on streamlining project approvals concerning job creation compliance.
ALERT: USCIS UPDATES VISA AVAILABILITY APPROACH FOR MANAGING FORM I-526 PETITION INVENTORY:
USCIS revises its approach to visa availability, affecting the management of Form I-526 petitions.
RECAPPING IIUSA’S 3RD ADVOCACY FLY-IN OF THE YEAR:
IIUSA’s third advocacy fly-in this year successfully concludes, showcasing dedication and progress.
WHITE HOUSE MEETING PUNCTUATES ANOTHER SUCCESSFUL WEEK OF IIUSA ADVOCACY:
A White House engagement marks yet another triumphant week for IIUSA’s advocacy efforts.
CHEVRON IN THE DOCK: BILL REEVALUATION LEAVES FATE OF GOVERNMENT AGENCIES’ POWER TO SUPREMES:
Bill reevaluation threatens government agencies’ power, with its fate now in the hands of the Supreme Court.
A Rallying Call to EB-5 Stakeholders: Join Us
As we’ve laid out the numerous advocacy milestones reached by IIUSA, one thing is clear: we’re in this together. If you’re an EB-5 stakeholder and you haven’t yet joined IIUSA, consider this: While we’ve already accomplished so much, the road ahead is packed with opportunities that can be unlocked with unified support.
IIUSA has long been the torchbearer for the EB-5 Regional Center industry, fearlessly advocating for critical measures like immigration reform, increasing visa availability, and ensuring the program’s permanency. IIUSA has played and continues to play, an instrumental role in program reauthorization, keeping USCIS in check, and pioneering the establishment of an EB-5 political action committee. The effects of these endeavors are clear:
Stability and Success: Our efforts ensure the EB-5 program isn’t just a fleeting moment but a long-term success story.
Operational Efficiency: We’ve streamlined operations, ensuring the entire stakeholder ecosystem benefits.
Economic Boom: With increased EB-5 investments, we’ve been the catalyst for job creation and economic growth in communities nationwide.
But here’s the deal: the true potential of the EB-5 Regional Center industry is boundless. With your support, we can not only maintain but exponentially amplify these benefits. By standing with IIUSA, you’re ensuring an even brighter future for the industry.
So, come aboard. Let’s harness the boundless potential of the EB-5 industry. Together, let’s shape the future we all believe in.