Certain portions of the EB-5 visa program for foreigners, to expedite Green Cards in exchange for investment in projects in the US, are slated to expire on September 30, and critics are arguing one of the most ire-inducing provisions should just be let go.
Congress implemented the EB-5 program as part of an overarching overhaul of immigration policy in 1990. Initially, the visa was only for direct investors who spent $1 million and created 10 jobs, and a separate provision allowed people investing in rural or high-unemployment areas to spend just $500,000.
However, applications were sluggish, so in 1992, Congress decided to also allow private entities to apply to be “regional centers,” which essentially pool foreign investors’ money.
According to The Atlantic, it is the regional centers that have created so much controversy for the EB-5 program.
Read more by clicking below image
