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.”
“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.
Subscribe for News
Join Professionals on EB5Projects.com →
This website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. Any such offer or solicitation will be made only by means of an investment's confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. This website does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. EB5Projects.com LLC and its affiliates expressly disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.