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Sen. Feinstein Introduces Bill To Nix EB-5 Investor Program

Law360, New York (January 25, 2017, 3:48 PM EST) -- Sen. Dianne Feinstein, D-Calif., filed a bill on Tuesday that would end the EB-5 investor program and reallocate the employment-based visas allotted to it among the four remaining employment-based visa classes, amid attempted reforms of the controversial program.

The bill would effectively shut down the EB-5 visa program, which gives green cards to foreign residents who invest hefty sums of money in U.S. projects that create jobs, and raise caps on the other categories within the overall allotment of about 140,000 employment-based visas.

The bill will...
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