On the recordDecember 8, 2016
Mr. President, I heard my friend and colleague Senator Leahy express his opposition, and opposition that I share, to the EB-5 Regional Center Program. I am here for the same purpose, to express the same opposition to the EB-5 Regional Center Program that was extended without reforms. One year ago, we made similar statements. I could easily read the same statement I gave at that time and it would be just as relevant today. We are very disappointed that reforms were not included in the continuing resolution, which simply extended this very flawed immigration program. The EB-5 Regional Center Program has been plagued by fraud and abuse. It poses significant national security risks. There are serious allegations that the program may be facilitating terrorist travel, economic espionage, money laundering, and investment fraud. Yet considering all of those things, the continuing resolution before us fails to include much needed reforms. So after a year, we have yet another missed opportunity. The chairs and ranking members of the House and Senate Judiciary Committees have agreed on a package of reforms. We have worked in a bipartisan and bicameral fashion. We have agreed--all four of us--on every aspect. We instituted compliance measures, we instituted background checks, and we instituted transparency provisions. We made sure rural and distressed urban areas benefited from the program, as Congress already intended and as Senator Leahy very clearly laid out the problems.…





