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The Senate passed a Continuing Resolution (CR) and avoided a government shutdown with a bipartisan vote of 82-15 to extend government funding into the new fiscal year. The House-approved stopgap measure, which will fund the U.S. government through November 21st, and includes an extension for the EB-5 Regional Center Program, will now be sent to President Trump’s desk for a signature. President Trump is expected to sign the CR before the September 30th deadline.
The CR is short term solution. Congress will need to return to the table to decide on another extension one week before the Thanksgiving holiday.
The November 21st deadline for the Continuing Resolution also marks the date that the new EB-5 Modernization Regulation will take effect. This new rule is set to make major changes to the nearly 30-year-old program including a significant increase in the minimum investment amount as well as changes to targeted employment areas.
The EB-5 minimum investment amount for a targeted employment area project is set to increase from $500,000 to $900,000 on Nov. 21. EB-5 investors looking to lock in the lower minimum investment amount still have time. For more information, send us a message or fill out our free EB-5 evaluation below.
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