Polis, More Than Three Dozen Business Groups Urge Action on Immigrant Investor Legislation

Press Release

Representatives Jared Polis (CO-02), Joe Garcia (FL-26), Matt Salmon (AZ-05), Mark Amodei (NV-02), Raul Ruiz (CA-36), and Marc Veasy (TX-33) today received a letter from a broad and diverse array of business and immigration groups thanking them for their leadership on the "American Entrepreneurship and Investment Act of 2014" (H.R. 4178), and urging prompt action on the legislation. H.R. 4178 would improve, reauthorize and make permanent the EB-5 visa program.

"The innovation and investments of motivated and ambitious immigrants can offer tremendous benefits to the United States economy, from creating jobs to revitalizing communities across the nation," said Representative Polis. "It is no mistake that groups ranging from Immigration Works USA to the National Association of Realtors are calling for swift action to strengthen, reauthorize and make permanent the EB-5 program. With the improvements we make in H.R. 4178, we will ensure that the best and brightest minds from around the world continue to come here with their ideas and business."

"The EB-5 program has proven itself an important tool in investing in our country's future, but it is far from working at its full potential," said Representative Garcia. "H.R. 4178 will improve the program so that it can better continue to foster economic growth and create American jobs"

"H.R. 4178 is the type of bipartisan, pro-growth immigration measure that is good for U.S. businesses, property owners, and workers," the groups wrote. "In an increasingly competitive global marketplace, we support H.R. 4178 to help give our country the competitive edge we need to attract foreign investment capital and talent to our shores."

"We strongly support H.R. 4178 because it will help give our nation the competitive edge to attract foreign investment capital to our shores," said Jeffrey D. DeBoer, President and CEO of The Real Estate Roundtable. "Real estate companies need adequate financial investments and the best people on the ground to transform their conceptual plans into job-creating office buildings, shopping and industrial centers, hotels and resorts, apartment communities, and homes. H.R. 4178 will provide certainty to the real estate and investment communities by ensuring that EB-5 funds are available as a key layer in the capital stack for a variety of development and infrastructure projects."