Warning: EB-5 Extension May Be Attached to Tomorrow’s Spending Bill

By David North on February 17, 2022

Update: The Senate passed a continuing appropriations resolution on Thursday – good until March 11 – that keeps the government funded, without any reference to EB-5, the immigrant investor program. We gather that there are continuing efforts, particularly in the Senate, to revive the program that may play a role in the next CR.

Here’s an urgent warning: The government will run out of money tomorrow (February 18) at midnight unless Congress passes one of those continuing resolutions — and these CRs are notorious for being used as mechanisms for extending the life of the main part of the EB-5 (immigrant investor) program, which has been dead since June 30 of last year.

According to industry website eb-5investors.com, an attempt will be made to insert an extension of the regional center part of the program, presumably without reforms, into the CR.

This represents an end-run around the legislative process. If the EB-5 people are interested in reviving the program, there should be a bill introduced to that effect, hearings held, and floor votes held. The EB-5 forces, however, prefer to operate in the darkness.