08.12.15

Comment Of Senator Patrick Leahy (D-Vt.), Ranking Member, Senate Judiciary Committee On The GAO Report On The EB-5 Program

"I have long supported the EB-5 Regional Center Program's ability to promote economic development and create jobs, and I have also sought important improvements to the program. The Department of Homeland Security needs additional authorities and enforcement tools to guard against fraud and abuse. And increased transparency and oversight are essential to instill confidence in the program.

"Today's report on the EB-5 program from the Government Accountability Office further confirms that such reforms are necessary.  I am working with Senator Grassley to make these improvements. With the Regional Center Program's authorization set to lapse at the end of September, I hope that other members of Congress will join us to strengthen and reauthorize this program. I believe its proven ability to create jobs in areas that often struggle to obtain investment makes this program worth fixing.”

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