If a program gave a developer $600 million in cheap financing, how much would the developer spend fighting for its right to exist?
In 2015, the Related Companies spent at least $730,000 in lobbying fees related to the viability of the EB-5 visa program, according to data from OpenSecrets.org, a website that tracks lobbying expenses and campaign finance, created by the nonprofit Center for Responsive Politics.
EB-5 offers foreign investors a green card in exchange for a $500,000 minimum investment in the U.S. economy.
Developers adore it because it’s a relatively cheap source of financing. Some prominent politicians, however, have said that it upends the usual immigration process and is rife with fraud and abuses.
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