[Congressional Record Volume 168, Number 47 (Wednesday, March 16, 2022)]
[Senate]
[Page S1220]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                      EB-5 REGIONAL CENTER PROGRAM

  Mr. CORNYN. Mr. President, I have long been a supporter of the EB-5 
program, which has been a significant economic driver in Texas. This 
merit-based immigration program has created thousands of American jobs 
and brought billions of dollars in investment to urban and rural areas 
across Texas and the U.S.
  While it was unfortunate that the authorization for the EB-5 Regional 
Center program was allowed to lapse on June 30, 2021, I am pleased to 
have worked with my colleagues, Senators Chuck Grassley and Patrick 
Leahy, on the EB-5 Reform and Integrity Act, which was included as part 
of the Consolidated Appropriations Act, 2022.
  The EB-5 Reform and Integrity Act reauthorizes the regional center 
program through September 30, 2027, and implements meaningful reforms 
and integrity measures that will ensure the viability and security of 
the program for the coming years.
  This legislation provides the first multiyear authorization for the 
regional center program since 2015, so that regional centers, which 
have been in limbo for nearly 9 months, will have much-needed stability 
going forward. There is also a 60-day implementation period to allow 
USCIS to begin processing EB-5 petitions and applications that have 
been on hold since the lapse. Following that initial period, existing 
regional centers will be able to immediately get back to work driving 
investment into the U.S. and facilitating the creation of jobs across 
the country.

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