Will It Or Won't It? The EB-5 Renewal Question
The EB-5 Regional Center Program is up for renewal and the deadline is tomorrow, December 7th.
While the EB-5 program has typically seen extensions every 6 to 9 months, this time appears to have more of the industry concerned.
Congressional leaders have announced a two-week Continuing Resolution. This is will extend government funding through December 21st and give Congress breathing room to handle matters after the funeral of George H.W. Bush.
Other than the announcement about the Continuing Resolution, little to no news has been reported on concerning the EB-5 Regional Center Program’s extension. Immigration matters such as the border wall have caused the EB-5 Program to take a back seat.IIUSA, has issued a call for action on their blog to professionals in the EB-5 industry, asking that they submit a letter like this to their congressmen asking for EB-5 renewal:
“Hello, my name is ___ and I’m a constituent from ___. I am calling to urge you to support the reauthorization of the EB-5 Regional Center Program on the upcoming continuing resolution package and upcoming reform efforts in the 116th Congress.
[Talk about what you have done to benefit the community with the EB-5 Program.]
The EB-5 Program contributed over $37 billion in U.S. GDP, $5 billion in tax revenue and created over 276,000 U.S. jobs from FY2010-FY2015. This is a program that is critical to the U.S. economy and I urge you to ensure it is included on the upcoming CR package. ”
Potential investors who are worried about program renewal or reforms can file their EB-5 petition now to lock in their spots.[formidable id="11" title="1"]