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Introduced Bill Would Make EB-5 Program Permanent in U.S.

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Introduced Bill Would Make EB-5 Program Permanent in U.S.

Representatives Jared Polis (CO-02), along with co-sponsors Matt Salmon (AZ-05), Joe Garcia (FL-26), and Mark Amodei (NV-02) sat down this week to discuss The American Entrepreneurship and Investment Act of 2014—a bill which would make permanent the EB-5 program in the United States.

The legislation ensures that the EB-5 program, set to expire in 2015, continues to be successful in its efforts to integrate foreign investment into the American economy, boosting job growth. The bill would be vital, as it would also help to improve aspects of the current program, such as speeding up processing times and inconsistent evaluations by agency adjudicators.

During the meeting, Representative Polis brought to light some encouraging thoughts on the program.

 “Since its founding, our nation has benefited from the innovation and investments of people from across the globe. Passing comprehensive immigration reform is still the only true way to fully maximize the benefits that motivated and ambitious immigrants can offer to the United States and I will continue fighting with colleagues on both sides of the aisle to fix our broken immigration system. The EB-5 program provides significant injections of capital and talent to our economy and, with the improvements we will make in this bill, will ensure that the best and brightest minds from around the world continue to come here with their ideas and business.”

Although the bill has not yet been passed, the future is looking bright, as representatives from all over are fighting to solidify their efforts. With over 95,000 American jobs and a whopping $4.7 billion in qualified U.S. projects created since the EB-5’s inception, the program has proven itself in the United States.

To learn more about the bill, click here.