EB-5IC Senate Judiciary Committee Hearing Statement

February 2, 2016


WASHINGTON, DC- The EB-5 Investment Coalition, a broad-based coalition representing EB-5 industry participants across the country, today released the following statement on the U.S. Senate Judiciary Committee’s hearing:

“The EB-5 Investment Coalition (EB-5IC) would like to commend the Senate Judiciary Committee for continuing to review and analyze the EB-5 Regional Center Program, which has created tens of thousands of American jobs through projects in all 50 states and across a broad range of industries — all at no cost to the taxpayer. Even with this rich record of economic impact, the EB-5IC recognizes the need for and has long supported reforms to make the program even stronger and more effective. Among other reform measures, our Coalition has repeatedly advocated for common sense changes to promote greater integrity and oversight in the program, including giving the Department of Homeland Security the tools necessary to address any and all misconduct.

“The upcoming reauthorization of the EB-5 Regional Center Program presents an opportunity to implement integrity measures aimed at addressing concerns over fraud and safeguarding national security, while ensuring that the program does not expire. Indeed, had Congress enacted the integrity and oversight measures that EB-5IC has long supported to strengthen this important job creation program last December, we believe that the EB-5 program would be in a stronger position today. These measures are sound policy we can all agree on and would significantly strengthen the program. We are pleased that key stakeholders are united behind the need for reform and reauthorization, and we look forward to working with Congress this year to that end.”

About the EB-5 Investment Coalition:

The EB-5 Investment Coalition (EB-5IC) is a broad-based organization of businesses, industry leaders, trade associations and elected officials mobilizing around the shared mission of putting Americans to work by reauthorizing and strengthening the critical EB-5 Regional Center Program. For more information, please visit: www.eb5coalition.org.