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February 29 2016

Post Chinese New Year; The Scalia Effect

Post Chinese New Year

Chinese EB-5 investors are back from the New Year holiday and are again looking at investments. We have begun work on a number of new cases in the past two weeks.


The Scalia Effect

The death of Supreme Court Justice Scalia may affect the EB-5 Regional Center extension statute, set to expire on September 30, 2016. The Senate Judiciary Committee has jurisdiction over the EB-5 statute extension and it also vets and votes on all federal judge appointments. If the President’s Supreme Court nominee results in a protracted battle, the Senate Judiciary Committee may be tied up this spring and summer on Supreme Court matters and may not have the bandwidth for a fight over the EB-5 statute.

To discuss the status of the Regional Center extension statute and the Senate Judiciary Committee, I will host a teleconference with the Washington D.C. lobbyist Marc Himmelstein. Marc was a key player in winning extension of the current EB-5 statute. He will address the recent Senate and House EB-5 hearings, the lay of the land with the current Flake, Cornyn, and Schumer transparency bill, and prospects for future bills. I will let you know the date of our conference call.