Congressional Leaders Discuss EB-5 with MAJA

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More than 20 members of the U.S. Senate and House of Representatives (including Republican presidential candidate, Marco Rubio) recently met with representatives of the More American Job Alliance (MAJA) to consider the elimination of the indirect job allowance for EB-5 investment projects.

When the program was revised in 1992 to include indirect jobs, the intent of the revision was to make the EB-5 program appear more attractive and less-risky for potential immigrant investors. At the time, it was a good idea. Twenty-three years later, the practice of including the creation of indirect jobs actually works against the fundamental purpose of the EB-5 program: creating jobs for Americans through foreign investment.

The program is now so popular, especially with Chinese investors, that, according to MAJA, we are short-changing ourselves by up to 50% at a time when there are some $3 billion of direct projects available.

– See more at: http://www.datsyn.com/article/4324/2015/08/04/Congressional-Leaders-Discuss-EB-5-with-MAJA#sthash.8nLm6SRA.dpuf