The EB-5 visa program – dubbed the "Golden Visa" program – was set to expire on Friday (April 28), but will now be on the chopping block this week.
The controversial visa program, which allows wealthy foreigners to essentially "buy" green cards in exchange for an investment in a commercial enterprise, has rebuilt the skylines of Manhattan and Miami. In fact, the program helped fund one of President Trump and Jared Kushner's signature investments – the 50-story Trump Bay Street tower in New Jersey.
You see, over a quarter of that project's funding – $50 million – came from EB-5 investors.
But even though Trump and Kushner have directly benefited from the program's funds, the new administration is expected to either scrap or dramatically reform the bill to align with Trump's "America first" agenda.
Now, the EB-5 program is essentially in limbo and rests at the whims of a new president and his administration…
The "Golden Visa" Program Explained
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