Friday, April 28, 2017
Congress soon could make it harder for rich people to move to the U.S.
(Source: Washington Post) The original plan was to attract foreign investment to blighted neighborhoods. But instead, the controversial EB-5 investor visa enabled affluent Chinese to park their cash in high-end real estate in Beverly Hills and Manhattan — benefiting developers such as President Trump and his son-in-law, Jared Kushner. Now the visas criticized as “green cards for cash” face a questionable future, with some members of Congress refusing to reauthorize the program, which expires Friday, unless there is significant reform. Proponents of the program argue that the investor visas provide much-needed capital for economic development. Critics say it encourages a two-tier immigration system favoring the rich over those fleeing wars, persecution and poverty. Read blog at https://www.washingtonpost.com/
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