EB-5 Reform Faces a Generational Defining Moment

 

The issue of sweeping immigration reform has now become part of “a generational defining moment.” That “moment” is really more of a process that has begun with the election of Congressman Paul Ryan as the new, Republican Speaker of the House.

Speaker Ryan responded to questions concerning immigration reform last week, saying that he intends to give priority to work on what he believes are more pressing legislative matters, such as passing a sorely-needed transportation funding bill.

Although immigration reform is a hot topic, it is one that Ryan feels is creating a bottleneck in our trilateral form of government. Ryan’s objective is to get some important things accomplished. He pointed out that President Obama’s criticism of Congress for failing to make program in significant areas of concern, e.g., immigration reform and approving a budget, misguided and politically calculated.

Ryan says that the problem is a chief executive who believes that he has the authority to legislate. Based on the president’s budgetary remarks (Congress has sent more than several budget proposals to Mr. Obama over the past seven years, by it is he who has rejected each of them.) Likewise, Ryan says, “The president has proven himself to be untrustworthy on this issue (immigration) with his executive orders.

It remains to be seen how this will affect EB-5. There is a very good chance that it will mean a continuation of the program without reform. How long it will take to pass specific EB-5 legislation aside from the broader matter of sweeping reform is anybody’s guess. We do know this for certain: Ryan said that “The House of Representatives will not vote on comprehensive immigration legislation as long as President Obama is in office.”

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