On February 7, 2019, Representatives Zoe Lofgren (D-CA-19) and Ken Buck (R-CO-04) introduced H.R. 1044 ‘Fairness for High-Skilled Immigrants Act of 2019.’ The bill will amend the Immigration and Nationality Act (INA) to eliminate the per-country caps to all employment-based immigrant visa categories, including EB-5.
“While the elimination of per-country caps may make sense for some categories, the elimination of the per-country caps for EB-5 will be to the detriment of the program,” stated IIUSA Executive Director Aaron Grau. IIUSA data analysis concludes the elimination of per-country cap for EB-5 will eliminate any new EB-5 economic development investment to the United States for at least 10 years.
“In the past year alone, the EB-5 program is responsible for over $3 billion in new economic development and over 100,000 jobs in the United States. Not excluding EB-5 from this proposal will put this type of new investment at risk,” stated Grau.
“We have opened the lines of communication to Congressional leaders and look forward to working with them in finding a legislative solution to continue EB-5 investment and job creation in the United States, all while achieving their goals for the other categories,” Grau concluded.
Click here to read the full IIUSA data analysis (members-only):