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Florida could lose millions of investment dollars if Trump-backed immigration bill passes

Viji Durga  September 04, 2017   comments   Projects

eb5visa

A little-noticed provision in the congressional bill overhauling the U.S. immigration system that President Donald Trump endorsed Wednesday would abolish a program that has brought billions of dollars into the United States — including hundreds of millions for Florida — from foreign immigrants who get visas and green cards in return for investments in job-creating projects.

Most of the extremely heated discussion of the plan has focused on its broadest features, including cutting the number of legal immigrants by half and de-emphasizing family reunification in favor of immigrants with particular job skills.

But a few paragraphs in the bill written in the opaque style of official Washington also eliminate the EB-5 visa program, which by some estimates has funneled more than $18 billion in overseas cash into U.S. business development since 2008.

Source: http://www.miamiherald.com/news/local/immigration/article165348077.html

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