|MAJA ANNOUNCES GRAVE CONCERNS WITH CONGRESS’ FAILURE TO PROTECT NATIONAL SECURITY WITH OMNIBUS APPROPRIATIONS BILL
December 18, 2015
WASHINGTON, December 17, 2015: After months of heated discussions regarding the EB-5 Regional Center (“RC”) Pilot program, which was set to expire last week, the Chairs and Ranking Members of the House and Senate Judiciary Committees agreed on language earlier in December for a bill that would reform the program, which has been plagued by fraud, securities violations and abuse for years while facilitating investment in true distressed and rural areas. Yet, in spite of that consensus, an omnibus appropriations bill was filed on Wednesday, December 16, that would extend the program through September 2016 without any reform and with no concern for the national security threat the current legislation poses.
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