- December 7, 2011
- Category: EB-5, H-1B Visas
The Senate Judiciary Committee held a hearing on reauthorizing the EB-5 Regional Center Pilot Program on December 7, 2011.
The following people testified at today’s hearing:
- Bill Stenger, President & CEO, Jay Peak Resort, Jay, VT
- David North, Fellow, Center for Immigration Studies, Washington, DC.
- Robert C. Divine, Shareholder, Baker, Donelson, Bearman Caldwell & Berkowitz, P.C., Chattanooga, TN
Mr. Stenger and Divine provided overwhelming pro-EB-5 testimony. Mr. North has been a critic of the program and would like to see further safeguards for it. Mr. Stenger pointed out the successes of the EB-5 program as applied to the Jay Peak Ski Resort in Vermont. Mr. North testified that the U.S. Senate should not operate on one glorious anecdote.
In my opinion, the interesting parts of the hearing came at the end when the senators themselves made comments.
Senator Sessions made several interesting statements: He said he considers the EB-5 program beneficial. He also said, “we are at a a point where we are probably ready to make the program permanent.” “[The EB5 Program], I believe should be a significant part of our immigration system.”
Senator Leahy made other interesting statements. He stated that he supported former President George W. Bush on Comprehensive Immigration Reform. If we do not get that, we would need to concentrate on other aspects of immigration. Regarding the EB-5 program, he stated that we said we need to “Fish or Cut Bait” on this issue. We either make it permanent or we end the program. Regarding H-1Bs, he stated that it makes no sense for us to send potential H-1B candidates back home, especially when they have taken advantage of subsidized education in the United States.
Both Senators Leahy and Sessions seem to be leaning towards making the EB-5 program permanent, therefore. Here is a link to full testimony from the hearing: EB-5 Hearing