IIUSA opposes S.232 in the strongest possible terms. The measure would repeal the EB-5 Regional Center Program resulting in an immediate loss of an estimated 220,000 local jobs and $11 Billion in community investment and infrastructure across the country. Instead we urge Congress to fix the program so Americans can keep the jobs. The EB-5 Investment Program creates thousands of American jobs at no cost to the taxpayer. And at IIUSA, we’re working for important reforms that improve rigorous vetting of both projects and investors, while allowing the program to continue transforming communities and providing quality American jobs. IIUSA appreciates Chairman Grassley’s longstanding interest in reforming the program and looks forward to continuing productive discussions with members of Congress, including Chairman Grassley and Ranking Member Feinstein in the coming weeks, urging them to reform, not eliminate, EB-5 so we can fix the problems and keep the jobs here in America.
IIUSA Statement on S. 232, Legislation to Repeal EB-5 Regional Center Program
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