At the first House Judiciary Committee hearing on immigration since Congress reconvened in January, the subject was not President Trump’s executive orders or recent deportation crackdowns, but instead the EB-5 investor visa, a 25-year-old pilot program that has become a pet fundraising vehicle for real estate developers.
Senators Patrick Leahy (D-VT) and Chuck Grassley (R-IA) joined members of the committee Wednesday to testify on program reform, urging Congress to make major changes that would push EB-5 money into more underserved communities rather than luxury projects in affluent urban neighborhoods.