Saturday, April 1, 2017

Mostly True: Leahy claim on immigrant investment through EB-5 program

(Source: PolitiFact) Democratic Sen. Patrick Leahy has called out an immigrant investor program as flawed and running counter to its intended purposes.

"The EB-5 program … was designed to bring jobs to underserved rural and urban communities. And for some time it did just that. But the program has strayed from these goals. It's a magnet for fraud. Security violations are common," Leahy said as a witness during a House Judiciary Committee hearing. "And the incentives that Congress created to promote investment in distressed areas had become obsolete due to economic gerrymandering."

Read the article at  http://www.politifact.com/

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