Political Quotes

“Mr. President, in 1990, Congress created the EB-5 visa, which was intended to create new employment for U.S. workers and to infuse new capital into the country. Two years later, Congress revised the EB-5 category by establishing a pilot program allowing investors to use regional centers to pool their investments. This pilot program still exists, nearly 25 years later, but it is deeply flawed, lacks adequate oversight, and has veered far away from congressional intent. The Regional Center Program expires on September 30 of this year. In my view, it is in need of a major overhaul if it is going to be reauthorized. I have said that repeatedly on the Senate floor, in hearings, and in letters to Senate leadership. Despite the need for reform, the fiscal year 2016 Omnibus appropriations bill included a straight and clean extension of the program. This was a disappointment given the alarm bells and the whistleblower allegations. It was a missed opportunity. It is my hope that both House and Senate leaders will find a way to include reforms in a continuing resolution or simply leave it off the table for a later date. The Senate Judiciary Committee held two hearings this year on the program. We discussed the flaws and corruption. We noted the many vulnerabilities. We had stakeholders weigh in. We heard from local leaders, associations representing workers and regional centers. We listened to academics and government officials.…”