Congress Remains Quiet about EB-5 Discussion Draft
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Though nearly a week has passed since the House of Representatives Judiciary Committee discussed the status of the EB-5 program, members of Congress still aren’t saying much—and it appears an agreement might not be on the horizon anytime soon.
Given the controversial nature of the legislation—set to expire Dec. 1—experts say the congressional heel-dragging isn’t surprising.
“A lot of groups have been reacting to the discussion draft,” Jeff DeBoer, CEO of The Real Estate Roundtable told GlobeSt. “Our coalition is about to provide detailed comments to the negotiators."
The EB-5 Coalition is weighing various options, DeBoer said, including ways of extending the program with integrity measures to a “safeguard national security and deter risks of investor fraud.” [GlobeSt]