By Eliot Brown | The Wall Street Journal
Congressional debate is heating up on the EB-5 immigration program, which allows foreigners who invest in job-creating projects to get green cards.
In recent days, real estate industry executives received copies of draft legislation on a renewal of a key piece of the program, a key piece of which expires on Dec 11. The draft – supported by Sens. Charles Grassley and Patrick Leahy, would tack another four years onto the program, which grants 10,000 visas a year to immigrant investors and their families.
The draft contains language meant address many of the concerns over fraud and lax management that have been raised by many about the program – provisions likely to be widely supported.
