Congress extends EB-5 Program making it safe until May 5, 2017.

The EB-5 Program was set to expire, but Congress included it in the federal funding continuing resolution.

While a handful of Congressmen occasionally introduce bills to dismantle the EB-5 Program, none gets very far. A few industry insiders have been predicting that the EB-5 Program will face a few reforms with the coming reauthorization, but even reforms seem unlikely.

The EB-5 Program stimulates the U.S. economy when foreigners invest at minimum $500,000 into U.S. economic development projects that create jobs in exchange for green cards. U.S. developers often take advantage of the program and use it to fund their real estate projects. President Trump’s son in law, Jared Kushner, has used EB-5 funding to finance his apartment development in New Jersey.

With the Trump family having directly and indirectly benefitted from the EB-5 Program, it seems likely that an EB-5 extension will occur and without any changes or reforms at this time.

The EB-5 Program is anticipated to be extended to September, 2017. At that time, new proposals for reforms are expected to be prepared, but at this time it is highly unlikely any comprehensive package outlining reforms will be produced.

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