Was there an EB-5 Program extension?
On September 6, an EB-5 Program extension was added as a part of the new proposed package deal.
President Trump and Congressional democrats reached an agreement on a National Funding Package. As part of the package, the EB-5 Program will be reauthorized until December 8, 2017.
Both the House and the Senate voted to approve the package, which included a Continuing Resolution, Debt Extension, and funding for Hurricane Harvey relief.
No EB-5 Program reforms were included in the bill. Some industry insiders believe that Congress is currently working on reforms for the EB-5 Program with the ultimate intension of making the EB-5 Program permanent.
Why is an EB-5 Program extension important?
The EB-5 Program boosts the U.S. economy through foreign investment and job creation. According to the U.S. Department of Commerce, the EB-5 Program has fueled billions of dollars of investment into the U.S. and has created hundreds of thousands of jobs for qualified U.S. workers since the program's inception in 1990.
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