Feinstein calls for end to controversial EB-5 immigration program

By Kathleen Pender Published 1:19 pm, Wednesday, November 4, 2015

en. Dianne Feinstein has called for an end to the controversial EB-5 regional center program that lets foreign nationals get green cards for themselves and their families if they invest at least $500,000 or $1 million in a U.S. business that creates or preserves at least 10 jobs.

The regional center program expires Dec. 11 unless Congress renews it. Other legislators called for reforming the program, but Feinstein appears to be the first to say it should end.

“At its most basic, the EB-5 program allows a foreigner to invest $500,000 in a U.S. business, in return receive a visa that puts them and their direct family on a special path toward citizenship,” Feinstein, D-Calif, wrote in an opinion piece in Roll Call Wednesday. “At the same time, individuals unable to buy their way into the country remain trapped in seemingly endless visa backlogs that often last more than 20 years. I believe the program is deeply unfair, sends the wrong message about this country’s values and is prone to fraud and abuse.”

The EB-5 program itself is not set to expire, only the regional center program. But regional centers account for more than 90 percent of visa applications submitted under the program.

Congress created the EB-5 program in 1990 to stimulate the economy. To get a visa, foreigners had to invest at least $1 million — or $500,000 in high-unemployment areas — in a business that created or preserved at least 10 jobs. But it got off to a slow start, in part because it was hard to prove job creation.

http://www.sfgate.com/business/netwo...-5-6610957.php

She needs to retire, she is either senile or sick. She wants to stop the program that gives a green card to someone investing a million dollars and creating at least 10 jobs because.individuals unable to buy their way into the country remain trapped in seemingly endless visa backlogs that often last more than 20 years. And in the same breath does zero to stop allowing millions of illegals here and to stop criminal aliens from freedom to kill more Americans. She voted against Kate's law also.

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Originally Posted by artist

She needs to retire, she is either senile or sick. She wants to stop the program that gives a green card to someone investing a million dollars and creating at least 10 jobs because.individuals unable to buy their way into the country remain trapped in seemingly endless visa backlogs that often last more than 20 years. And in the same breath does zero to stop allowing millions of illegals here and to stop criminal aliens from freedom to kill more Americans. She voted against Kate's law also.

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I agree with her. American citizenship is not a commodity that should be bought and/or sold like agricultural dry goods!

True in a way but a lot of countries offer citizenship for a large fee and Eb5 creates JOBS too - a contribution to the economy and coffers. I think her time could be better spent holding on to that option and work to remove the millions of illegals and their so called anchor babies, prevent further invasions too and ensure ALL citizens have jobs before utilizing foreign worker visas for those jobs.

Many countries require a certain amount of guaranteed income as criteria to reside there - income you bring with
you, not income you would make there. They don't take in freeloaders.