> EB-5 NEWS > Senate country cap elimination bill placed on hold — new...

Senate country cap elimination bill placed on hold — new BELIEVE bill would not count family members in annual quota

Posted by EB5Admin | EB-5 NEWS

The Senate version of the country cap elimination bill has been placed on “hold” with opposition from people like Paul Rand, senator of Kentucky. Rand has introduced another bill that would eliminate country caps — but not count family members against the quota, thus greatly increasing the number of investors receiving Green Cards.

Though there was rare bipartisan support in the House for bill H.R. 1044 with a 365 – 65 vote, the Senate version of the bill, S.386, has been placed on “hold.” Senator Paul Rand (R-KY) and others have prevented the bill from going to the Senate floor.

The Department of Homeland Security (DOS) opposes the bill in a semi-public fashion, claiming it would do nothing to move to a merit-based system, and it would have an adverse impact on wait times for immigrants of many countries the current administration favors.

BELIEVE BILL WOULD GREATLY INCREASE EB-5 INVESTOR GREEN CARDS

Interestingly, Senator Rand, has introduced another Bill that would eliminate country caps — but also not count spouses and children in the annual EB-5 quota. As investor family members receive about two-thirds of the 10,000 annual visas given to EB-5, THE BELIEVE bill could roughly triple the number of investors receiving Green Cards. This could be a huge positive for the industry. As of yet, that bill has no co-sponsors.

It is said the current Trump administration does not approve of a country cap elimination, along with some notable conservative groups and pundits. Thus, the future of the EB-5 industry can go in notably different directions based on what — if anything — happens with either S.386 or the BELIEVE bill.