Tuesday, February 15, 2022 - The EB-5 Immigrant Investor Regional Center Program has historically been attached to the omnibus, the federal government’s annual spending / budget bill.
On Monday, February 7, 2022, the House Appropriations Committee advanced a short-term continuing resolution to again extend funding temporarily at current levels through Friday, March 11th, as top congressional appropriators anticipate not completing the omnibus package by the current February 18th deadline. This measure is expected to pass the Senate this week. This marks five months of delay. The omnibus is the legislation members of Congress have indicated they would utilize to reauthorize the program. The EB-5 program continues to have strong bipartisan and bicameral support in Congress.
Spending bills, although frequently delayed because of political negotiations, always eventually pass because they are necessary to fund the US government. While we can’t guarantee that the omnibus will be completed March 11th, there is substantial pressure from Democrats and Republicans to pass this particular bill because it contains key clarifications that are delaying the disbursement of billions of dollars of funds from the bipartisan infrastructure bill that was passed last year.
We stand with investors eagerly awaiting the delayed passage of this bill.