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Move over Regs, the EB-5 Bill is Alive and Kicking!
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Mona Shah, Esq.
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<strong>Move over Regs, the EB-5 Bill is Alive and Kicking!</strong>
<br/>
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<strong>By Mona Shah, Esq.</strong>
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The mad scramble to locate, persuade and file EB-5 investor cases before
USCIS’ regulatory changes come into effect on November 21 continues.
Spurred on by pessimistic predictions about the state of the EB-5 industry,
it is easy to overlook the fact that efforts to obtain legislative reform
have progressed significantly. The pending statutory program extension
coupled with much needed legislative reform efforts, remain energetic,
profound and positive. The various groups within the industry, IIUSA, EB-5
Investment Coalition (EB5IC), the US Chamber of Commerce, the Real Estate
Roundtable, and the Rural Alliance have overcome past hurdles and agreed on
policies such as TEA designations, investment differentials, integrity
measures, derivative relief, and of course a long-term re-authorization.
<br/>
<br/>
Such unprecedented unity gives the EB-5 Industry a powerful political
advantage; this is manifesting itself in pending legislation that has
bipartisan support from both Chambers of Congress.<a name=”_ftnref1″></a> <a href=”http://discuss.ilw.com/articles/articles/391586-article-move-over-regs-the-eb-5-bill-is-alive-and-kicking-by-mona-shah-esq”>[1]</a>
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<br/>
“The key to continuing and strengthening the EB-5 program is legislation; a
new reform bill that not only extends the program, but makes it better in
ways regulations cannot, including strong integrity measures and a rural
set aside initiative. We look forward to working with our friends in
Congress to make all this a reality” – Aaron Grau, Executive Director of
IIUSA.
<em>
Only legislative reform can bring relief to the backlog for some
countries.
</em>
<br/>
<br/>
It is time to offer our support to Congressional supporters of the EB-5
program! EB-5 projects were responsible for over $10 billion of capital
investments during 2014-2015 alone, with more than 355,200 reported jobs
created.<a name=”_ftnref2″></a> <a href=”http://discuss.ilw.com/articles/articles/391586-article-move-over-regs-the-eb-5-bill-is-alive-and-kicking-by-mona-shah-esq”>[2]</a> This
economic stimulation and job creation does not benefit a party line or
advantage specific groups, but benefits the country as a whole by
increasing foreign direct investment and burgeoning domestic markets from
inbound investments through increased development.
<br/>
<br/>
<strong>Hakeem Jeffries for EB-5!:</strong>
As part of the final push and on behalf of the EB-5 industry, MSA is
spear-heading a campaign to support Congressman Hakeem Jeffries. As an EB-5
proponent and an important ally in the House of Representatives,
Congressman Jeffries has proven to be an avid supporter of immigration
reform; previously collaborating with the New York Immigration Coalition
and the Fair Immigration Reform Movement in his efforts to bring
comprehensive changes to the U.S. immigration system.
<br/>
<br/>
Call to the EB-5 Industry: please support the Cause.
<br/>
Join us:
<a
href=”http://mshahlaw.com/wp-content/uploads/2015/04/Event-Invitation.pdf”
target=”_blank”
>
http://mshahlaw.com/wp-content/uploa…Invitation.pdf
</a>
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About The Author<br/>
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<b>Mona Shah, Esq.</b> Born in the UK, Mona graduated from the University of Northumbria in England (UK) in 1990. Mona was admitted as a Solicitor of the Supreme Court of England & Wales in 1993 and was admitted to the New York Bar and the United States Federal Bar in 1997. While in England, Mona trained with various firms before her appointment as a Crown Prosecutor with the British Crown Prosecution Service. After moving to New York, she established Mona Shah & Associates Global (MSA Global) in 1997. Mona has over 26 years of legal experience.
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<p> <a name=”_ftn1″></a> <a href=”http://mshahlaw.com/wp-admin/post-new.php#_ftnref1″>[1]</a> According to multiple media sources and independently confirmed, last week U.S. Senator Rand Paul (R-KY) circulated a “Dear Colleague” letter seeking co-sponsors to a process called the <a href=”https://www.gao.gov/legal/other-legal-work/congressional-review-act” target=”_blank” > <em>Congressional Review Act</em> </a> <em> (CRA</em> ) to negate the recently proposed Obama-era EB-5 regulations. </p> <p> <a name=”_ftn2″></a> <a href=”http://mshahlaw.com/wp-admin/post-new.php#_ftnref2″>[2]</a> Economic and Policy Resources (2019) </p>
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