Trump's Jersey City Tower Makes America Great—With Chinese Visa Money
For all of Donald Trump’s tough talk on immigration—wanting to limit it for all but the highly skilled—The Donald relied heavily on cash from EB-5 visas for his Trump Bay Street tower in Jersey City.
Trump courted $50M (a quarter of the project’s funding) from the Far East in a Chinese-subtitled video advertising the complex. The tower is being built by Kushner Cos, whose CEO, Jared Kushner, is Trump’s son-in-law.
All that EB-5 financing could just be the presidential candidate’s way of looking out for the US economy, however, as the program’s supporters argue the foreign capital creates US jobs at no cost to US taxpayers. [Bloomberg]