05 Jan, 2021, 08:47 ET
NEW YORK, Jan. 5, 2021 /PRNewswire/ -- The EB-5 industry — and investors worldwide — want more than the 10,000 visas the program is usually allotted each year. For that to happen, EB-5 industry reform must first be implemented.
There are 2 reasons why reform must come first:
- It's the right thing to do. EB-5 is a much-needed economic-stimulus program that, from FY2010 to 2015, has generated $4.25 billion in capital investment and over 276,000 jobs for the U.S. economy. It can play a vital role in rebuilding America. But some bad actors who have misappropriated investor capital have tarnished the program name. Reform measures will protect all stakeholders and investors.
- Reform will quiet the political naysayers who object to EB-5.
IIUSA (Invest In The USA) is the national not-for-profit EB-5 trade association and it firmly believes that the EB-5 Reform and Integrity Act of 2020, a bipartisan bill introduced by Senators Grassley and Leahy, is the answer. And it can be the stepping stone to increasing the annual quota of visas:
"With the EB-5 Reform and Integrity Act of 2020, the EB-5 program is in a stronger position to seek more visas in the next administration. Without reform, hope for visas in return for a promise of reform is not possible because legislators will oppose such a measure without reform which has been promised since 2015 but never realized."
If EB-5 matters to you, and you think that the program can help the U.S. economy, support the EB-5 Reform and Integrity Act of 2020.
Read about the bill's benefits, why IIUSA supports the bill, and a section-by-section breakdown of the bill here.
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