Once again Congress is poised to decide the fate of the EB-5 program that enables foreign investors – many of whom are Chinese – to pump between $500,000 and $1 million into US projects that create jobs in return for visas.
EB-5 is scheduled to expire on Friday unless Congress acts. According to Stephen Yale-Loehr, an attorney and Cornell University law professor, Congress is likely to once again extend EB-5 temporarily as it weighs more pressing matters and agrees on changes to the program.