Two U.S. Senate candidates in South Dakota are calling for reforms to the state’s EB-5 program.
The program allows foreign investors who invest at least half a million dollars in businesses in the states to get fast tracked for an American visa.
It’s hard to find many issues opposing candidates for U.S. Senate agree on, but both Senator John Thune and democratic candidate Jay Williams say the Federal EB-5 program needs reform.
A federal agency is now considering terminating South Dakota’s immigrant investor center. The center administers the EB-5 program in the state.
U.S. Senator John Thune says more transparency in the regional centers and background checks for those who work with the program are needed…
“It’s a program that’s had a lot of problems,” Thune says. “I think, if it’s going to continue, it needs to be fixed, it needs to be reformed. So, I’m hoping that at least we will be able to find the collective will to make those reforms and to make those changes. I know there are a lot of states who benefit from it. There are a lot of states who are committed to keeping it. But, I just know that it’s had enough problems, which, I think, if it’s going to be continued need to be fixed.”
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