EB-5 Included in Continuing Resolution for Short-Term Extension
On September 28, Senate passed a continuing resolution (CR) to fund the federal government through December 9. The provision to extend the EB-5 program is included in the short-term budget bill, which also allows the government to continue running through the November election and into December.
The deadline for the CR is September 30 and a vote is expected to happen in the next few days.
“Since EB-5 was contained in last year’s Omnibus appropriations bill, it is automatically extended by a Continuing Resolution for its duration, "stated Alexander Hecht, Vice President of Government Relations at ML Strategies. "Stakeholders should continue to monitor developments related to the CR, but according to Hecht, “passage in both chambers seems very likely…as legislators on both sides of the political aisle are anxious to get home to focus on campaigning for the November elections.”
FirstPathway Partners will continue to monitor new developments.