Post-Election Report from DC: EB-5 in the 113th Congress

01.02.13 | Archived

Now that the 2012 elections results are official, IIUSA is looking ahead to the 113th Congress that will take office in January 2013.  The results of the election have reinvigorated efforts to reform the U.S. immigration system from both Democrats and Republicans.  The White House has made it clear that economically oriented immigration reform will be a priority going forward, but only as part of a comprehensive effort (rejecting the House Republican efforts to pass H.R. 6429 during the current “lame duck” session).

When the debate on comprehensive immigration reform begins in the 113th Congress, re-authorization and reform of the EB-5 program will inherently be part of the discussion.  It is important to remember that Senator Patrick Leahy (D-VT), Chair of the Senate Judiciary Committee, has lead similar efforts in the past – including the reform bill that was included in S. 1986 during the 112th Congress (which never passed either chamber).

IIUSA is looking forward to engaging with Congress on these issues so we can make sure the next re-authorization of the Program is a permanent re-authorization, and that any reforms that are included are designed to enhance the Program’s ability to produce positive policy outcomes (i.e. capital formation, regional economic development, and U.S. job creation).

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