Current EB-5 program to be extended to December 7th!
On September 13th, news agencies reported that the government will continue to fund the EB-5 program until December 7th. Rodney Frelinghuysen, House Representative from New Jersey, has stated that work has been completed on the combined spending bill for defense, human services/education and labor/health. Of course, in order to be effective this resolution needs to be signed into law by President Donald Trump.
The ABC-affiliated television station KSFY reported that:
The White House in a statement said Trump looks forward to signing the spending package, adding that it "aligns with many of the administration's priorities."
The three-bill bundle includes:
— $97.1 billion for the Department of Veterans Affairs and military construction, including a $1.1 billion increase to pay for a law Trump signed to give veterans more freedom to see doctors outside the troubled VA system.
— $44.6 billion for energy and water programs, including programs to ensure nuclear stockpile readiness and spur innovation in energy research. The bill also funds flood-control projects and addresses regional ports and waterways.
— $4.8 billion for the legislative branch, including Congress and the Capitol police.
For now, the important fact for the EB-5 program is that the continuing resolution includes language that extends authorization of the EB-5 Regional Center Program with no changes. IIUSA, the EB-5 industry trade association and advocate who reported this news as soon as it became public said, “while this extension is temporary, it gives IIUSA and its partners renewed opportunities to push for a long-term reauthorization for the critical immigration and economic development program after the elections in the lame duck and new 116th Congress.”
What is the bottom-line? When yet another extension is granted through continuing resolution, potential investors who are serious about taking advantage of the EB-5 program should act now at the favorable terms before it is too late.
If you want to get more information about the opportunity, please do not hesitate to call us at + 1 917 355 9251 or write to us at info@americaeb5visa.com.
Posted by americaeb5visa on September 16, 2018