Soon after our EB-5 meetings in DC last month, Representatives Rick Larsen (WA) and Brian Higgins (NY) introduced H.R. 2972 (Creating American Jobs Through Foreign Capital Investment Act), which would permanent authorize the EB-5 Regional Center Program (“the Program”). It was quickly referred to the House Judiciary Committee. The legislation has its counterpart in the Senate, sponsored by Senator Patrick Leahy (VT) with S. 642 (Creating American Jobs through Foreign Capital Investment Act).
IIUSA fully endorses both pieces of legislation, and thanks above listed Members of Congress for their leadership on making the Program permanent tool of 21st century economic policy. Prompt action by Congress to make it law is urgent. The uncertainty that comes with the Program’s current “sunset date” of September 30, 2012 will only get worse as we get get closer. Now is not the time to scare away a valuable source of capital that will create U.S. jobs. Now is the time to send a message to the markets that the U.S. is open for business investment. Making the Program permanent is “low hanging fruit” as it is revenue neutral for the government to run, and generates tax revenue (without raising taxes a dime). American jobs with adding to the deficit. This is the elusive combination that lawmakers are looking for!
SUPPORT S. 642 AND H.R. 2972! MAKE THE EB-5 REGIONAL CENTER PROGRAM PERMANENT!