The EB-5 program presents an
opportunity to take bipartisan
action and improve an already
successful job-creation and
investment program.
program, which has served as a catalyst of job creation in a
diverse range of communities. As the program stands now,
worthy projects have been beneficiaries of investment in a wide
range of communities from coast to coast. In rural, suburban,
and urban communities, each of which has unique investment
needs, there have been successful EB-5 projects. Efforts to
needlessly “tilt” the program towards one particular type of
project would discourage competition and, ultimately, the
competiveness and effectiveness of the entire program.
We acknowledge that there currently exist many different
proposals on this particular portion of the legislation, but
there is bipartisan support for finding an equitable solution
that preserves market competition and ensures that diverse
communities will continue to be served by the EB-5 program.
For instance, we feel that proposals that take into account
existing worker commuting patterns have great value. For
many business plans, it would be a relatively low burden to
prove that workers were in fact coming from a neighboring
community.
Another item that should be included in discussions of
reform are strategies to seriously address the issue of visa
backlog. The fact that there is a six-year backlog right now is
unacceptable. If you are a possible investor today and you look
at your options to immigrate via EB-5 or other programs, and
compare those with available options for other foreign investor
visa programs, EB-5 may in fact have the longest wait time
from initial application to permanent residence. Or, if you
want to look at it from a policymaker’s perspective, a six-year
backlog means that many reforms you might pass in a five-year
authorization might never actually take effect.
In H.R. 616, we propose exempting spouses and children
from EB-5 admission limits. This is just one proposal for
reducing the backlog. Political considerations make addressing
the backlog hard in this Congress, but it would be a missed
opportunity to not at least look for a legislative fix.
These reforms should form the bulk of a reauthorization
effort. Other reforms, including efforts to address processing
times by creating a premium processing mechanism, and
encouraging USCIS to build capacity so that it can work with
more complex business plans, would be worthy additions to
any reauthorization legislation.
The EB-5 program presents an opportunity to take bipartisan action and improve an already successful job-creation and
investment program. We will continue to urge Congress to
bring forth a long-term reauthorization measure that protects
against fraud and abuse but also ensures market competition.
We look forward to continuing to work with you on achieving
this goal in the coming year.
Congressman Jared Polis represents Colorado’s
Second District in the U.S. House of Representatives. At home in Colorado, Rep. Polis initially won
elected office when voters selected him for a
seat on the Colorado State Board of Education in
2000, on which he served for six years including
as vice-chairman and chairman. In Congress,
Rep. Polis has become a recognized leader on
school reform, as well as immigration, civil rights,
the environment and tech issues. First elected
to represent Colorado’s Second Congressional
Congressman
District in 2008, Rep. Polis serves on the ComJared Polis
mittee on Rules, the Committee on Education
and the Workforce, and the House Democratic
Steering and Policy Committee. He is also co-chair of the New Democrat Coalition
Immigration Task Force.
Congressman Mark Amodei represents
Nevada’s Second District in the U.S. House of
Representatives. A native of Carson City, Nev.,
Rep. Amodei served in the Nevada state assembly
and the Nevada state senate for over a decade,
incl uding two years as president pro tempore
of the Nevada state senate. Elected to represent
Nevada’s Second Congressional District in
2011, Rep. Amodei serves on the Committee on
Appropriations.
Congressman
Mark Amodei
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