At MAJA, we support the EB-5 program and wish to see it continue.
We strongly believe that the Regional Center reauthorization is an opportunity to address the numerous problems inherent in the program and present practices including fraud, abuse, U.S. securities law violations, foreign corrupt practices, national security risks, racial prejudice, and economic injustice which has inundated the EB-5 Regional Center program in recent years. Providing tough new measures to TEA qualifications, increased investment thresholds for non-TEA investments and promoting rural investment across America presents a fair and balanced approach to EB-5 reform legislation.
It is in best interests of the United States that the program be reformed immediately in order to cure it of such defects and protect U.S. citizens.
We support the bipartisan and bicameral legislative EB-5 reform efforts led by Senator Grassley (IA), Senator Leahy (VT) and Representative Goodlatte (VA).
We welcome your comments and suggestions as we move forward in our efforts to ensure the EB-5 program really does create MORE JOBS across diversified markets.