FOR IMMEDIATE RELEASE
July 24, 2019
EB-5 Investment Coalition Calls for Withdraw of New DHS Regulations to Allow Congress to Take the Lead on Reform
WASHINGTON, DC – The EB-5 Investment Coalition, a broad-based coalition representing EB-5 industry participants across the country, today released the following statement from Angelique Brunner, the EB-5 Investment Coalition’s Industry Membership Chair and Spokesperson, on the U.S. Department of Homeland Security’s publication of new regulations:
“The regulations published by the U.S. Department of Homeland Security (DHS) fail to modernize the American EB-5 visa program. In fact, the regulations will crush foreign investment in communities across the U.S. and put hundreds of thousands of American jobs at risk, without addressing the fraud and national security concerns, which all parties agree are pressing.
“Congressional action is the best way to truly modernize this merit-based, job-creating immigration program, address national security and fraud concerns and bring lasting reform so the EB-5 program can continue to invigorate both rural and urban communities and keep Americans working. Recent EB-5 investment activity shows that tens of billions of investment dollars and hundreds of thousands of new U.S. jobs hang in the balance.
“We urge this administration to move with speed to withdraw these regulations, which derive from the previous administration’s proposal, and let Congress take the lead. There is a ripe opportunity to achieve consensus legislative reform ahead of the program’s expiration this September; we do the American people a significant disservice not to seize it and deliver reform done right.”
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.