Urban Equality NOW Endorses the Latest EB-5 Agreement on the American Job Creation and Investment Promotion Reform Act

Urban Equality NOW Endorses the Latest EB-5 Agreement on the American Job Creation and Investment Promotion Reform Act

Civil liberties group considers the new language a good compromise

The latest language for the upcoming reauthorization bill for the American Job Creation and Investment Promotion Reform Act has been formally endorsed by civil liberties group, Urban Equality NOW (UEN). The beleaguered bill will be in front of Congress on Friday, December 11.

“There have been so many groups putting pressure on Congress to write the bill in an attempt to correct some of the current law’s shortcomings,” says Angelica Martinez, Director for Urban Equality NOW. “The proposed legislation is an acceptable compromise and improves a program which has demonstrated great potential for reviving economically depressed and rural areas and we are happy to endorse it.”

The group, which stepped up to be the voice of the American Worker in lawmaker discussions surrounding the controversial bill, had several concerns as it was first presented, including the commonly accepted gerrymandering of the TEA’s stating that “Only those collections of U.S. Census Tracts, wherein aggregate unemployment meets or exceeds the 150% threshold, should be granted applications.”

A lawsuit, filed in November, cited several cases of the abuse including a Regional Center project in Laredo as well as projects in New York’s Time Square and Hudson Yards.

“The new language incentivizes investments in urban poor and rural areas, effectively closing TEA loopholes and will prevent future abuses of the program from happening,” continues Martinez. “It also improves how jobs are calculated which creates more jobs for American workers.”

ABOUT URBAN EQUALITY NOW

Urban Equality NOW is a non-profit group formed to promote equality among economic development and job creation throughout the United States.


http://www.businesswire.com/news/home/20151209005946/en/Urban-Equality-Endorses-Latest-EB-5-Agreement-American

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