Grassley and Feinstein’s Anti-Jobs Bill Challenges President Trump’s Pro-Jobs Goals
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The message from Donald Trump’s 2016 presidential campaign was clear—put America back to work.
It was that message that resonated the most with the American public during 2016 and carried the longtime businessman into the Oval Office. The mandate is clear. The country expects more jobs for its citizens.
It is against this backdrop and clear mandate that U.S. Senators Diane Feinstein (D-CA) andChuck Grassley (R-IA) decided to slap the American public and common sense across the face with the introduction of S.232. The bill would eliminate the entire EB-5 program, a program that has the sole focus of creating U.S. jobs at zero expense to the taxpayer. This proposed anti-jobs bill—the spirit of which is antithetical to the voter mandate undergirding Trump’s election—would reallocate the 10,000 visas allotted to the program to four other employment-based visa categories.
The tremendously popular EB-5 program allows a foreign investor to earn a green card by investing $500,000 or $1 million into a new commercial enterprise that creates at least 10 full- time jobs for U.S. citizens and legal U.S. residents. Along with its job creation requirement, the program does not cost taxpayers a single cent as the investor’s application fee supports the program’s administrative costs.