EB-5 & Other U.S. News

EB-5 Regional Center Program Sunset Date:

On December 18^th, the EB-5 Regional Center Program is set to expire unless reauthorized by Congress and the President. It is usually reauthorized on a short-term basis as part of the government spending bills.

Congressional Stimulus Package Talks:

December 18^th is the new deadline for passing a federal funding bill and averting another government shutdown. Several programs, including the EB-5 Regional Center Program, must be reauthorized through this bill, or face expiration.

Members of Congress have been negotiating a stimulus package all week which could include a new round of stimulus checks, as well as aid for small businesses and jobless Americans. While the Covid-19 pandemic and recent spike in cases have pushed lawmakers to come together to work on a deal, according to the Washington Post, aids stated that lawmakers may only pass another short-term extension in order to gain more time for negotiations.

Covid-19 Vaccine Distribution:

The road to economic recovery may start with the Covid-19 vaccine, but some countries are first in line.

Multiple wealthy nations including the United States, Canada, and Britain have already authorized Pfizer’s Covid-19 vaccine and have secured massive preorders of many other top promising vaccines, leading the way to fighting the virus, but leaving behind many other countries that lack the tremendous funding and resources these nations possess.

While many of these wealthy nations are already planning to redistribute excess vaccines to other countries and the World Health Organization has a plan to secure a billion vaccine doses for poorer countries, the fact of the matter is these wealthier countries have first access.

In a quote from the New York Times, “‘The high-income countries have gotten to the front of the line and cleared the shelves,’ said Andrea Taylor, a Duke researcher who is studying the [vaccine] contracts.”

Why? According to the New York Times, “The United States has provided billions of dollars to back the research, development and manufacturing of five of the most promising vaccines against Covid-19, pushing them forward at a speed and scale that would otherwise have been impossible. But the support came with a condition: that Americans would get priority access to doses made in their country.”

If the vaccine could put the United States on the path to economic recovery, programs such as the EB-5 Program could assist with stimulating the U.S. economy through foreign capital investment and job creation for U.S. workers, all at no cost to the U.S. taxpayer.

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