With the EB-5 visa program up in September, The Real Estate Roundtable organization has urged its members to use any means to get Congress to reauthorize it, citing "catastrophic consequences" if the program expires. Just last week, a multi-industry coalition sent a letter to Congress, arguing EB-5 is a vital source of foreign capital that helps finance "federally approved economic development projects" in the US. According to RER, these projects accounted for 95% of all EB-5 investments between 2005 and 2013, $5.2B total. The group fears the August congressional recess could delay the ruling. [RER]
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