AILA welcomes senator’s effort to reauthorize the EB5 pilot program
The American Immigration Lawyers Association (AILA) applauds Senator Leahy and the Senate Judiciary Committee for conducting the hearing, “Reauthorizing the EB-5 Regional Center Program: Promoting Job Creation and Economic Development in American Communities.”
The hearing is conducted today in Capitol Hill. Proponent and opponent of the EB5 pilot program are expected to testify at the hearing.
“Each EB-5 visa that gets approved is guaranteed to create jobs in a rural or high unemployment area in the U.S. It makes perfect sense for the country right now and it’s good to see that Senator Leahy is promoting it,” said AILA President Eleanor Pelta.
The EB-5 Regional Center pilot program, established in 1992, is scheduled to sunset on September 30, 2012. This important visa program provides conditional green cards to immigrant investors who invest their funds into projects that will create jobs for U.S. workers in areas of especially high unemployment. Administration and USCIS interest in the EB-5 program in general, and their recent initiatives to improve and streamline processing, underscore the program’s obvious potential as a driver of economic growth and job creation.