Wednesday, March 8, 2017

Chairman Goodlatte hosts hearing on DHS proposed regulations reforming the Investor Visa Program

House Judiciary Chairman Bob Goodlatte hosts a hearing on reforming the EB-5 Investor Visa Program. Chairman Goodlatte mentioned large luxury real estate projects in NYC and Beverly Hills exploiting the Target Employment Areas through gerrymandering. Senator Grassley and Leahy stressed the importance of moving the focus of the EB-5 Program back to rural areas and distressed communities. Congressman Sensenbrenner presented 2 main declarations on the EB-5 Program during the hearing. He summarized the EB-5 Program brings in quality US jobs and the program is out of date with fraud, abuse and low investment levels which needs reformed. Speakers included Senator Grassley, Senator Leahy, Rebecca Gambler of U.S. Government Accountability Office, Sam Walls III of Pine State Regional Center, Angelique Brunner of EB5 Capital, Dekonti Mends-Cole of Center for Community Progress and David North of Center for Immigration Studies. The EB-5 Visa Program is set to expire on April 28, 2017.