Wall Street Fraud Watchdog Urges the US Congress to Renew the EB-5 Visa Program Including the Grassley-Leahy Bill-with One Big Change-Reduce the Entry Cost Back to $500,000 To Increase Participation
The Wall Street Fraud Watchdog is urging the US Congress to incorporate the Grassley-Leahy Bill into the EB-5 Visa Program----and to get a more significant result for US employment Congress must reduce the cost of participation back to $500,000.
WASHINGTON, DC, February 17, 2021 /24-7PressRelease/ -- The Wall Street Fraud Watchdog says, "We are urging the US Congress to renew the EB-5 Visa program as soon as possible, with the added provisions suggested by Senators Grassley and Leahy with one significant change. We are appealing to the US Congress to lower the price of participation back to $500,000 so more people can be involved. The EB-5 Visa program has created high paying employment opportunities for US citizens-and that is a good thing-especially now---in an economy that has been damaged by the Coronavirus.
"We have seen the flaws of the previous version of the EB-5 Visa Program and we believe the Grassley-Leahy Bill addresses these shortcomings. However, unless the US Congress lowers the cost to participate back to $500,000 the program will not be as successful as it could and can be." https://WallStreetFraudWatchdog.Com
The Wall Street Fraud Watchdog also believes this reinvigorated EB-5 Visa program should put a special emphasis on investors from Taiwan, Hong Kong, and India. For many the EB-5 Visa Program is a safety net for foreigners who are at risk or see the value of having a stake in the US economy. The US Congress should take this into account and perhaps on at least a temporary basis allow more investors from as an example Taiwan-a nation that is constantly being threatened by their nearby neighbor to participate in larger numbers. The Wall Street Fraud Watchdog sees the EB-5 Visa Program as a win for the US economy-and they are urging the US Congress to make the required changes and to get this program back up and running as soon as possible. "Why wait until June?" https://WallStreetFraudWatchdog.Com
About the Grassley-Leahy EB-5 Visa Bill
Senator Chuck Grassley (R-IA) and Senator Patrick Leahy (D-VT) have co-sponsored the bipartisan EB-5 Reform and Integrity Act. Changes the bipartisan legislation would bring include the following:
* Extend the program through September 2024.
* Increase the Department of Homeland Security's (DHS) authority to deny or terminate applications involving fraud, criminal misuse, or threat to public safety or national security.
* Establish an "EB-5 Integrity Fund" into which the regional centers and investors would pay fees to be used by the DHS to perform audits and site visits and investigate fraud.
* Require background checks of the regional center and project principals.
* Require more disclosures to investors regarding business risks and conflicts of interest.
* Require more oversight of projects and closer monitoring for securities compliance.
The Wall Street Fraud Watchdog is one of the nation's leading advocates for small investors and they are associated with one of the nation's leading consumer advocacy groups. The group is also a watchdog for corporate integrity and fair play. https://WallStreetFraudWatchdog.Com
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