Sens. Float EB-5 Bills Following Short-Term Extension

By Allissa Wickham (October 2, 2015, 10:40 PM EDT) -- Sens. Jeff Flake, R-Ariz., and Rand Paul, R-Ky., introduced two bills on Thursday related to the EB-5 immigrant investor program, with Flake focusing on targeted employment areas, and Paul's bill aiming to make the regional center program permanent.

The bills, introduced with little fanfare from both of the senators' offices, come after Congress temporarily extended authorization for the EB-5 regional center program until Dec. 11 under a stop-gap funding bill designed to avert a government shutdown.

Through the EB-5 program, investors can commit as little as $500,000 to a project and eventually come away with a green card, as long as...

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