Dramatic EB5 News from, ILW.
Politico reports that as a part of the massive 1 trillion dollar Coronavirus package, the Trump administration is proposing to increase the EB5 quota from 10,000 to 75,000 and reducing the investment amount from $900k to $450k. This will clearly inject a significant amount of much needed capital into an economy that seems to be diving to Great-Depression-level depths. We applaud the administration for this elegant idea of using immigration strategically for national benefit.
Anti-immigrationists oppose this commonsensical idea of EB5 expansion by pointing out that it would result in over-dependence on China. This objection is similar to second thoughts that many industries and companies are having for being overly dependent on China for their supply chains of manufactured goods like smartphones and ibuprofen. In this sense, the EB5 industry is no different than other parts of the US economy in over-reliance on China. Companies are planning to solve the problem of too-concentrated-a-supply-chain by diversifying outside of China going forward for all manner of supply chains including smartphones and ibuprofen. Perhaps, all objections to the administration’s EB5 solution can be overcome by exempting China from the increase in EB5 quota, thus getting EB5 investments from Vietnam, India, Korea & Brazil instead—from countries that are friendly to America—which will result in a more diversified and therefore sounder supply chain for investment immigration. Exempting China from EB5 expansion would overcome all current political opposition to this proposal and facilitate inclusion of EB5 expansion in the massive Coronavirus legislation, and its passage into law of the land.
Congress appears to be pairing EB5 expansion with the dropping of proposals for massive expansion of H2A and H2B numbers (in light of the massive layoffs across the economy) which were being negotiated in Congress. We also strongly recommend dramatically liberalizing Physician Immigration in this Coronavirus package—we will need many times the number of doctors we have. Immigration is an integral part of America, so it is natural that immigration reform is an integral part of any solution to our nation’s Coronavirus crisis.
To learn more, and have your EB-5 questions clearly and fully answered, contact the Pollak PLLC team today at info@pollakimmigration.com or 214-307-5510.
We are here to help! To learn more about the EB-5 visa visit our website at https://www.pollakimmigration.com/eb5-visa.
