The congressional leadership, aided by the Appropriations Committee, has once again extended the EB-5 program in the massive interim budget bill. The provisions, due to expire this coming Friday will now remain in place until September 30, the end of the fiscal year, The Center for Immigration Studies reports.
The scandal-riddled EB-5 program will be funded without reform. The program allows foreign investors to purchase a home in a US suburb as an “investment”, after which they can get in line for residency and citizenship, along with their extended family.
If you want to come to the US, get a green card, and have citizenship, you can do it with an EB-5 visa.
All “investors” really have to do is buy a house. Senators Schumer and Lee wanted to encourage investment in our ailing housing market with this program under a bill several years ago. It has become corrupt
EB-5 investors obtain permanent residency through the program and have the option to apply for U.S. citizenship 90 days prior to the five year anniversary of receipt of their conditional resident status.
An Orlando soccer team is promising visas to any foreigner who wants to invest $500,000.
The majority owner of Orlando City Major League Soccer, asked investors from Brazil, China and elsewhere to pay $500,000 each for a stake in the stadium he is building near downtown Orlando. In return, the foreign investors receive annual dividends, two season tickets and something even more valuable: a green card that allows them, their spouses and sometimes even their children to live and work in the United States, eventually gaining citizenship.
An investor in Massachusetts is using the EB-5 visa program to help finance enterprises from hotels to sports arenas to condominiums.
No one really cares much that this could pose a potential national security nightmare.
Every year, the United States gives out thousands of green cards to mostly wealthy, influential Chinese businessmen who are in some cases planning to build self-sufficient cities.
To become wealthy and powerful in China, you must be a member of the Communist party.
Asian immigrants have been outstanding contributors to U.S. society, however that doesn’t mean we want Chinese Communist millionaires buying their way into citizenship. Others say it’s merely sustainable Capitalism. It’s more like vulture capitalism.
CIS Executive Director Mark Krikorian, after pouring over the huge document, said that the extension of the EB-5 program was “hidden in the citation arcana”:
Sec. 542. Section 610(b) of the Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 1993 (8 U.S.C. 1153 note) shall be applied by substituting ‘September 30, 2017’ for ‘September 30, 2015’.
Wonder what other horrors are in the bill. We are sure those shrimp on treadmills are still getting funded.