China's Favorite U.S. Visa Program May Have Ally In Donald Trump
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President-elect Donald Trump, who vowed to be tough on China, accusing the country of stealing American jobs and cheating at global trade, may be friendly to the EB-5 program.
The U.S. EB-5 program, which rewards wealthy foreign investors with green cards, is up for renewal next week. Washington insiders are cautiously optimistic the program will continue and have a powerful ally in President-elect Donald Trump.
The program, which has been under fire for funding luxury building projects in metropolitan areas such as such as Manhattan rather than creating jobs in rural, economically distressed areas, was up for extension last December, extended to September 30, and is now extended until December 9.
Angelique Brunner, the EB-5 Investment Coalition's industry membership chair and spokesperson, said that while "it's hard to say what Congress's priorities are right now" the EB-5 program has been extended in the past and the coalition has bipartisan support for the program and is anticipates that Congress will continue the program.