Political Quotes

“the reason I have come to the floor today-- and I will be joined by Senator Grassley--is to share my concern and his concern about the EB-5 Regional Center Program. The authorization of this program is set to expire at the end of the month, but Senate leadership wants to extend the EB-5 Program as part of the continuing resolution. I want the Senators to know that if this flawed program is not reformed, I believe it should end. I can no longer support a straight extension of the program. For years, I strongly supported the EB-5 Program. I even championed its reauthorization. I did so because EB-5 was designed to bring in investment and jobs to underserved rural and urban communities. For some time, that is what it did. In my home State of Vermont, communities such as Warren and Vergennes used EB-5 to create and save jobs during difficult economic times. They are EB-5 success stories, but that was the EB-5 yesterday. The EB-5 Program today is mired in fraud and abuse. It has strayed from its important policy goals. The incentives Congress created to direct investment to underserved areas-- the very reason I supported this program--have been rendered meaningless. The program has become an unintended boon for the wealthiest business districts in the country. Affluent areas now dominate the program. They exploit incentives that were intended for underserved areas, a practice Department of Homeland Security Secretary Johnson has rightly described as gerrymandering.…”