Tuesday, September 22, 2015

Senate proposes Continuing Resolution to temporary extend EB-5 RC Program

It’s an eventful week in Washington DC as the Pope and Chinese President Xi Jinping are in town to address Congress and meet with President Obama. The House of Representatives are trying to defund Planned Parenthood, the Senate recently blocked the 20 week abortion bill and Government Shutdown rumors have started. It’s a demanding time in DC as the EB-5 Regional Center, E-Verify, Conrad 30 and religious worker visa programs all expire on September 30, 2015. These programs are usually reauthorized but there are new bills introduced to improve each of the expiring programs.

The Senate has proposed legislation today to fund the Federal Government through December 11, 2015 which contains an extension for the EB-5 RC program. The bill would extend the EB-5 RC Program until December 11, 2015. The Senate must pass the continuing resolution and then send it to the House to be passed. The continuing resolution must be passed before October 1, 2015 to avoid Government shutdown. This short term extension of EB-5 Regional Center would allow the Government to have more time to reform the EB-5 Regional Center, E-verify and other visa programs.

Call us at 217-899-6661 for more information about EB-5 program.

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