Earlier this week, the Senate Judiciary Committee of the 113th Congress hosted its first hearing on comprehensive immigration reform. A diverse set of witnesses testified on various aspects of U.S. immigration policy. While no witness represented the EB-5 Program specifically, it was referenced on a number of occasions.
Chairman Patrick Leahy (D-VT) praised the Program in his opening remarks and specifically requested collaboration from Janet Napolitano, Secretary, U.S. Department of Homeland Security, on improving the administration of the Program. Senator Jeff Session (R-AL) also mentioned the Program as an example of U.S. immigration policy that emphasizes American economic interests. Lastly, Steve Case, President, Revolution, LLC, (founder of America Online (AOL)), praised the Program in his opening remarks for the economic impact that it is having nationwide.
IIUSA remains deeply engaged with the process for potential immigration reform, and will continue to keep IIUSA members abreast of new developments and their potential impact on the Program. The Senate hearing was the first of what will many on the topic of immigration before any legislation is formally considered. The House Judiciary Committee held its first hearing on the topic last week, with additional in the works.
