U.S. Sen. Patrick Leahy, D-Vt., speaks to a crowd Monday morning at Brattleboro American Legion Post 5.
U.S. Sen. Patrick Leahy is again gearing up to push for EB-5 reforms through the upcoming lame duck session of Congress, however, just what a looming Trump presidency will mean to that effort remains unclear.
In late September, Congress extended the EB-5 immigrant investor legislation through a continuing resolution that funded government operations through Dec. 9.
But, Leahy voted against that continuing resolution because he said it only extended the existing EB-5 program and did not include proposed reforms he believed were needed to protect against fraud, which he said is “rampant.”
The largest alleged investor fraud case in the state’s history involved developers, including Bill Stenger of Newport, using the EB-5 program to fund projects in Leahy’s home state of Vermont.
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