08 Dec Oops I Did it Again: Congress Fails to Re-Start EB-5 Program in Continuing Resolution
Washington, D.C., December 7, 2021: The House and Senate passed a Continuing Resolution to keep the U.S. federal government operating, It was quickly passed into law by President Biden’s signature. The Continuing Resolution was critical to avoiding a shut-down of the U.S. federal government.
What was missing from the Continuing Resolution? Once again, the Continuing Resolution failed to include a line re-starting the EB-5 Regional Center program. This is the second time in the last 3 months that Congress had the opportunity to re-start the EB-5 Regional Center program by Continuing Resolution, and omitted any action. The first opportunity occurred in September, when the annual federal spending bills terminate.
The EB-5 industry and tens of thousands of EB-5 investors throughout the world will have to anxiously wait — needlessly — for several more months to find out if the Congress will actually deliver on the EB-5 Regional Center program, which held out the prospect for a green card in exchange for investment and job creation in the U.S.
Donoso & Partners expects Congress to take up the issue of the EB-5 Regional Center program in the Department of Justice Appropriations Bill, which is likely to be passed by Congress by the end of February or March.
Donoso & Partners, a leading immigration law firm based in Washington, D.C., will continue to report on developments regarding the immigration law and policy through our news section of donosolaw.com.