Friday, May 22, 2020 - FORBES: EB5 Investor Immigration Program Escapes Trump’s Ban While Supporters Advocate Its Expansion
When President Trump tweeted, about the Executive Order to temporarily suspend immigration into the United States, many immigrants and long-time observes of immigration policies were confused as to what he was doing. The following day, administration officials scrambled to prepare the presidential proclamation for his signature, while trying to limit the sweeping announcement’s potential damage to the American economy. Even then, not everyone was certain what U.S. immigration programs would be affected by the proclamation.
One program in particular was a source of concern to many investor immigrants, namely, the EB-5 investor immigration program.
Invest in the USA (IIUSA) President, Bob Kraft, immediately came to the defense of the EB5 program. Responding to the Cotton inspired letter, they wrote, “We find the Senators’ position to shut down the EB-5 immigrant investor program to be deeply troubling.” They added, “the EB-5 program is a proven job creation and retention tool.”