EB-5 to Be Extended for another Nine and a Half Months

By David North on December 16, 2015

The EB-5 program — as is, with no changes — will be extended through September 30, 2016.

This is what will happen if the Senate goes along with the current text of the omnibus funding bill that has passed the House, and if, as expected, the president signs the bill.

This shows again, as we have seen so often in the past, that the tiny minority that profits from a bit of legislation can shoulder aside all other, broader considerations — such as, in this case, widespread fraud in a program that is, in turn, based on the dubious premise that it is good public policy to sell visas to aliens.

On the other hand, the bill could have been extended for three years without changes. Still worse, the heart of the program, which involves the regional centers and their ability to use estimates of indirect job creation to support the needed 10 jobs per $500,000 investment, could have been made permanent, but was not.