Civil and Human Rights Coalition Applauds Proposed Reforms to EB-5 Visa Investor Program

WASHINGTON—Nancy Zirkin, executive vice president of The Leadership Conference on Civil and Human Rights, issued the following statement in response to the Department of Homeland Security’s announcement of proposed reforms to the EB-5 visa investor program:

“We applaud DHS for announcing its intent to amend the EB-5 visa investor program. The Leadership Conference has been advocating for reforms to the program, as have bipartisan leaders in the Senate and House: Chairman Grassley, Senator Leahy, Chairman Goodlatte, and Ranking Member Conyers.

The EB-5 program was created to promote job creation and capital investment in rural and urban high unemployment communities, but it has been egregiously misused over the years, with the vast majority of funding going toward affluent urban areas rather than the distressed communities that need them the most. The proposed rule would raise the rate for high-unemployment areas and reform the definition of ‘targeted employment areas,’ ensuring that this EB-5 money goes to the urban and rural communities that are most in need.

We strongly support the increased investment amounts put forward in this proposed rulemaking and continue to believe that meaningful reform to the ‘targeted employment area’ definition is necessary. We look forward to carefully reviewing the notice of proposed rulemaking and submitting comments to DHS as we work to promote job creation and investment in rural and distressed urban communities.”

Nancy Zirkin is executive vice president of The Leadership Conference on Civil and Human Rights, a coalition charged by its diverse membership of more than 200 national organizations to promote and protect the rights of all persons in the United States. The Leadership Conference works toward an America as good as its ideals. For more information on The Leadership Conference and its 200-plus member organizations, visit www.civilrights.org.

###