While the Trump administration focused on restricting immigration over the last four years, the President-elect Biden and the democrats have been much more pro-immigration.
A look at the immigration section of Joe Biden’s website shows that his immigration priorities will include modernizing America’s immigration system, welcoming immigrants into American communities, and undoing many of Trump’s immigration policies.
President-elect Biden’s stance on immigration may be the encouragement that many foreign nationals need to reconsider the American Dream for their families. One strong pathway to the American Dream is the EB-5 Program, which allows foreign nationals to obtain United States’ green cards when they invest in job-creating new commercial enterprises.
President-elect Biden’s fiercely different immigration view combined with the economic aftermath of Covid-19 may be just what causes the United States to revitalize the EB-5 Program. A few roadblocks, however, remain. The undecided Senate race means leaves uncertainty surrounding which party will take the majority, and thus have power over many immigration decisions. And, even with a democratic majority, there are still concerns, as a few vocal democrats have been against the EB-5 Program.
Despite these issues, the overall shift in tone surrounding immigration is likely to bring more attention to the EB-5 Program. Foreign nationals may look again to the American Dream and plan a future in the United States. World-class universities, top business investment opportunities, a strong housing market, and unique entertainment options will again drive foreign high-net-worth individuals to consider the U.S. a top destination country.
- New York
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