Washington, D.C. – House Judiciary Committee Chairman Bob Goodlatte (R-Va.) and Ranking Member John Conyers (D-Mich.) issued the following statement on bipartisan, bicameral efforts to reform the EB-5 investor visa program:
“We are disappointed that the omnibus appropriations bill did not contain bipartisan, bicameral reforms to the EB-5 investor visa program. For months, we have worked with Senate Judiciary Committee Chairman Grassley and Ranking Member Leahy to address concerns about rampant fraud and abuse in this visa program. Had these sensible and widely supported reforms been enacted, EB-5 investment funds would have been directed to distressed urban and rural communities that need it most. By not including these bipartisan reforms in the omnibus, an opportunity was missed to capitalize on a rare bipartisan moment in Washington and strengthen the integrity of this immigration program.
“Our efforts to reform this troubled immigration program are not deterred by the special interests who have sought to quash reforms. We plan to hold a hearing on the EB-5 program early next year and will continue working towards enacting much needed reforms.”
Background on the EB-5 Program: Under the EB-5 program, foreign nationals, as well as their spouses and unmarried children under 21, are eligible to apply for a green card if they invest at least $500,000 in American businesses and create or preserve 10 permanent full-time jobs for U.S. workers. Over the years, various agencies and government watchdogs have stated that the program is plagued with fraud and abuse and poses national security concerns.