As the September 30th sunset date for the EB-5 Regional Center Program (the “Program”) approaches, IIUSA welcomes the introduction of EB-Jobs Act (H.R. 3370) which, among other provisions, would make the Program permanent and increase the number of EB-5 visas available each year under certain conditions. We commend Reps. Lofgren and Gutierrez for putting forward a thoughtful package of reforms to continue – and potentially expand – the Program’s track record of job creation while strengthening oversight and accountability.
With a reauthorization bill – S.1501 — also introduced in the Senate (along with H.R. 616 in House), there is growing Congressional support for timely reauthorization. It is now critical that both chambers work together to ensure that the EB-5 Program continues to be a secure and effective engine for economic growth and job creation in the U.S. for years to come.