Back to Top skip to main content
Green and Spiegel - An Immigration Law Firm - United States
Menu
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

Photoshopped David Spalding

David Spaulding

(215) 395-8959

(215) 395-8959

email David

Philadelphia (US Headquarters)

Full Biography

David Spaulding

Recent Blogs

Sep 17, 2019

Social Security Administration (SSA) Programs Present Challenges to Employers Which Rely Upon Unauthorized Workers

When we talk about immigration enforcement, we are usually talking about the three “sister” agencies: United States Citizenship and Immigration Services (USCIS), Customs and Border Protection (CBP), and Immigration and Customs Enforcement (ICE). We may not easily see the role that agencies like the Social Security Administration (SSA) play in immigration enforcement; yet, the Trump Administration is enforcing a wide field of laws in ways that will likely impact potentially undocumented immigrants and, by extension, their employers. Learn more.

Sep 16, 2019

Foreign Students Subject to Training Location Site Visits

The Trump Administration is strictly enforcing a number of immigration laws and regulations and in ways not seen in many years. Conducting site visits at OPT training sites fits within the broader thrust of Administration enforcement actions. By carefully following school’s guidelines and making good use of the Designated School Officials overseeing the OPT, both student and employer can avoid complications rising from these site visits.

Sep 04, 2019

Green and Spiegel U.S. Practice Director Presents at the Pennsylvania Office of General Counsel, OGC University 2019

Jonathan A. Grode, Esq. is presenting “Immigration Enforcement and Its Impacts on the Keystone State in 2019” during the Pennsylvania Office of General Counsel’s September 5, 2019 “OGC University 2019.” During this plenary session presentation, he and Deputy General Counsel Gregory G. Schwab, Esq. will explore the impact of federal administration changes to immigration policy and how those changes impact Pennsylvania and the United States as a whole. Learn more.