Congress Continues Calls For EB-5 Visa Reform

Law360, New York (April 13, 2016, 7:02 PM EDT) -- Lawmakers revisited the debate over the EB-5 visa program for immigrant investors on Wednesday, with several high-ranking members of Congress criticizing what they say has been an abuse of provisions for targeted employment areas.

There has been a chorus of calls for reforms for the program, which continued during a Senate Judiciary Committee hearing focused on a feature that critics say has been exploited to allow wealthy neighborhoods to qualify for incentives intended for underserved areas.

If a project is in a targeted employment area, or TEA, investors can put in less money to qualify for the visa opportunity. But some...

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