Political Quotes

“I would like to thank Senator Leahy for joining me to discuss the EB-5 Reform and Integrity Act of 2022. He and I have worked together on the issue of EB-5 reform for many years. Because of that, we are proud that the Consolidated Appropriations Act 2022 includes the provisions of the EB-5 Reform and Integrity Act of 2022, of which we are the primary authors. Congress originally authorized the EB-5 Regional Center program in 1993 as a pilot program, and, in recent years, its reauthorization was often included in appropriations bills. However, due to lack of an agreement to reauthorize and reform the program last year, it lapsed on June 30 and has remained lapsed since that time. This legislation formally repeals the pilot program created by Congress in 1993 and codifies in its place a new regional center program reflecting a number of reforms that we have pursued for many years. All regional centers which operated under the lapsed and repealed pilot program will be expected to seek a new regional center designation in compliance with the new requirements and reforms laid out in our bill. However, the bill allows petitions filed by immigrant investors under the old pilot program to continue to be adjudicated under the law as it existed when they were filed.…”