Job Creators: Reauthorize & Reform the EB-5 Regional Center Program
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IIUSA Joins Industry Letter Urging Congress to Protect 220K Local Jobs And $11 Billion In Community Investment While Working Toward Reform
As a follow-up to the joint EB-5 Regional Center industry consensus letter sent to Congress in July, Invest in the USA (IIUSA), the non-profit EB-5 industry trade association, together with EB5 Investment Coalition (EB5IC), American Immigration Lawyers Association (AILA), Real Estate Roundtable and the U.S. Chamber of Commerce sent another letter to Congress on September 6, urging for immediate reauthorization of the EB-5 Program. While the July letter focused on policy consensus from the broad and diverse organizations that signed it, the latest letter emphasizes the catastrophic impact that a lapse of the Program would cause to the American economy and the federal government.
“We’re working for important reforms that improve rigorous vetting of both projects and investors, while allowing the program to continue transforming communities and providing quality American jobs,” said Peter D. Joseph, Executive Director of IIUSA. “As we continue to work for important reforms, it is imperative to prevent a lapse in authorization. If the program lapses, a minimum of $11 Billion in community investment and 220,000 local jobs will disappear immediately. IIUSA wants to reauthorize and reform EB-5 so American communities can keep the jobs it creates and eliminate problems with the program.”