Rare Support Comes from Mainstream Media for Ending Hurtful EB-5 Visa

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By Joe Guzzardi

Joe is a CAPS Senior Writing Fellow whose commentaries about California's social issues have run in newspapers throughout California and the country for nearly 30 years. Contact Joe at joeguzzardi@capsweb.org, or find him on Twitter @joeguzzardi19.

The writer's views are his own.

September 14, 2015

In what may be unprecedented support from the mainstream media, The Washington Post has called for an end to the fraudulent EB-5 visa. The visa is fundamentally a citizenship-for-sale vehicle that has been shamelessly abused by overseas investors, primarily Chinese, and may have played a role in Senate Minority Leader Harry Reid’s abrupt early retirement announcement.

EB-5
Washington Post: EB-5 shows 'paltry' results.

Since 2012, CAPS has written extensively about the unfolding EB-5 scandal, and how it allows foreign nationals to make a token $500,000 investment, and promise to create a minimum of ten U.S. jobs, including those generated indirectly. In exchange, the entire family of the EB-5 holder can come to the United States and then get green cards that could eventually lead to citizenship.

Despite being staunchly pro-immigration, an ardent amnesty supporter and consistently in favor of expanding visa issuance, the Post wrote on its editorial page that since Congress created it in 1990, the EB-5 has shown “paltry results.” The editorial referred to a Brookings Institution report which found that since the EB-5’s inception, 8,500 visas had been issued directly to investors, but twice as many to family members.

Arguing that the EB-5 does little for local communities, a point CAPS made three years ago, the Post urged Congress to let the visa expire when its authorization runs out on September 30.

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