Back to Top skip to main content
Green and Spiegel - An Immigration Law Firm - United States
Sep 5, 2019

Senator Rand Paul Seeks Congressional Action to Halt EB-5 Program Changes

David Spaulding

As we previously discussed, United States Citizenship and Immigration Services (USCIS) proposed substantial changes to the EB-5 regulations on July 24, 2019.   The “EB-5 Immigrant Investor Program Modernization Rule” is scheduled for implementation on November 21, 2019.  It appears that the Administration will apply the rule, as written, unless Congress acts to stop it.

On August 20, 2019, U.S. Senator Rand Paul, a long-time supporter of the EB-5 program, sought to block implementation of the changes through a Congressional Review Act resolution.  In a Letter to Colleagues, he wrote:

“By significantly raising the minimum investment levels required for foreign investors to become eligible petitioners under the EB-5 program, this rule may undermine the very purpose of the program, which is to create jobs and grow the economy.  Moreover, the rule would severely restrict the role of the states in determining targeted employment areas… Taken together, these regulatory changes will disrupt regional center operations and are likely to reduce the level of foreign direct investment in the U.S. economy.”

As written, the new rules – specifically those nearly doubling minimum investment amounts – will likely reduce the number of EB-5 filings and adversely impact the overall effectiveness of a program that has successfully channeled foreign investment into the US economy.  Senator Paul’s efforts to delay implementation may open a window for a broader legislative effort to address EB-5 program challenges like the country cap and adjudication delays. We have previously detailed our opposition to the EB-5 Modernization Rule, although our concerns were largely ignored. We accordingly advise clients to interested in EB-5 to move forward as quickly as possible given significantly worse terms starting November 21.

We will continue to monitor this issue closely.  Contact us today to discuss EB-5 investor questions.

Related Team

D Spaulding Team Page

David Spaulding

(215) 395-8959

(215) 395-8959

email David

Philadelphia (US Headquarters)

Full Biography

David Spaulding

Recent Blogs

Jul 09, 2020

Update – 60-Day Extension of Deadlines for RFEs and Other Agency Requests Extended through September 11, 2020

If RFE, NOID, NOIR, Denial, or other Agency request issued between March 1, 2020 and September 11, 2020, may submit up-to-60-days beyond stated deadline or decision date. New notices will not be issued. Learn more in this blog.

Jul 08, 2020

M.I.T. and Harvard Sue the Trump Administration over Plan to Require In-Person Classes for International Students

The Student and Exchange Visitor Program (SEVP) announced plans to severely modify temporary exemptions for nonimmigrant students taking online courses during the fall semester forcing students enrolled in programs operating entirely online to depart the United States or transfer to another school in order to avoid deportation. Universities across the country were swift to criticize and decry this decision by the Trump administration; and the Massachusetts Institute of Technology (M.I.T) and Harvard have filed a lawsuit against them. Learn more in this blog.

Jul 07, 2020

SEVP Modifies Temporary Exemptions for International Students Taking Online Courses During the Fall 2020 Semester

On Monday, July 6th the Student and Exchange Visitor Program (SEVP) announced that it has implemented modifications to temporary exemptions for nonimmigrant students taking online courses during the Fall 2020 semester. Due to the COVID-19 pandemic, a change in policy had permitted nonimmigrant students to take more online courses than usually permitted by Federal regulations to maintain their nonimmigrant status. Learn more in this blog.