Trump is going to increase the number of visas for foreign investors/
The Trump administration is considering a controversial proposal: expanding the program and increasing the number of visas issued to wealthy foreigners who are willing to invest in the US economy. With this step, the president is going to strengthen the shaken economy due to the outbreak of coronavirus.
This proposal may be included in one of the Senate bills. The number of visas will be increased from 10,000 to 75,000, while the necessary investments will be halved from 900,000 to 450,000 US dollars.
According to a report from the Brookings Institution's Analytical Center, half of the EB-5 visa recipients (investor and their families) come from China. Many come from South Korea and Taiwan.
Immigration hardliners who typically support President Trump's policies oppose such innovations. Such a law would increase the number of foreigners in the United States, especially Chinese citizens whom Trump accused of spreading the coronavirus.
Such a proposal appeared while the Trump administration temporarily stopped issuing other types of visas, for example, agricultural workers, rescuers, etc., as unemployment is expected to increase in the United States.
The administration is also considering reversing the recent decision to increase 35,000 non-agricultural seasonal workers (landscapers, crab pickers, etc.), White House informants said. So far, there is no official comment on this information.
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The EB-5 program has been operating since 1990 and was created to stimulate rural areas and economically disadvantaged urban areas.
In November, an amendment was introduced to increase the minimum investment and push the program to use in rural areas and areas with high unemployment.
Different people have different attitudes towards this program, some are for innovations, others are against. Let's see what the USA decides in the end and what the final result will be.
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