The Last Days Of EB-5?
With just ten weeks left until the sunset date for the EB-5 program, Jaensch Immigration Law Firm wants to encourage discussion on this topic, both because of its importance to our nation’s economy but also because of how it is indicative of our legislative branch’s lethargy. Congress must act on or before September 30th to prolong the program; if they do not, USICS will lose the authority to grant immigrants’ petitions and thus deprive American business ventures of the investments they need.
Between the present and September 30th, Congress only has about four total weeks while it is in session; two now and two in September. Thus, there should be a sense of urgency to get this program reapproved NOW! While the EB-5 program has almost lapsed and, indeed, even did lapse once in the past, the U.S. economy was never in the dire straits which it today finds itself. Congress should be doing everything it can to spur the U.S. economy and help out-of-work Americans find jobs, particularly those in blue collar jobs, which are the majority of the jobs EB-5 development projects create. Congress’ unwillingness to act affirmatively on this program is especially disturbing because there is almost unanimous support for it on both sides of the aisle. In other words, there is no real risk that the program permanently disappear, but this is little consolation to those overseas who do not know the program’s history.
We urge any person considering applying for the EB-5 to do so as soon as possible. At least before the September sunset date for the program. If it lapses there is no telling when it may return. Such an opportunity should not be missed.