Congress: “Why won’t anybody build EB-5 projects and create jobs in our communities?!”
Also Congress: “Well, let’s just delay reauthorization of the EB-5 program and strand a few billion dollars overseas and a bunch of families overseas until we stop fighting.”
Yes, it’s painful and frustrating that EB-5 reauthorization was delayed again. But will it be reauthorized?
Why? Because as we shared with EB-5 Investors.com today, “Long term, we believe grandfathering is always in play for the same reason Congress will have to pass EB-5 reauthorization — if they don’t, the real-world damage would be immediate and catastrophic . . .an avalanche of lawsuits from current investors and Regional Centers and projects if USCIS decided to not grandfather existing petitions or failed to reauthorize the program.”
We share everybody’s frustration of course, but as we’ve advised our own clients, exhale for now and be patient a little longer. Hopefully 2022 brings good news soon and we’ll certainly be here to fight for everybody every step of the way.