The Future of EB-5 Under President-Elect Trump
As most of the world realizes, the election of Donald Trump as President-Elect of the U.S. is without a doubt one of the most unexpected and far-reaching political developments America has seen in years. As the first steps toward the handoff from Obama’s liberal White House to the unclear policy positions of Mr. Trump, both America and the rest of the world watches, wondering what the future will look like.
In the past week, we have received many calls and emails from current or prospective EB-5 investors concerned about how the Trump presidency may affect the EB-5 program. Given the tough, anti-immigrant rhetoric which we all heard over the past campaign year, such concerns are understandable…but not well-based. Here’s why:
- In the very short period since the results were announced, Mr. Trump has drawn a clear black line between what can be characterized as “the politics of campaigning” vs. “the politics of winning”. He has unabashedly admitted that his divisive rhetoric was a fit and proper tool with which to achieve his objective: winning. At the same time, he has in this brief period taken substantial leaps backwards as far as his most controversial policies. His promise to erect a wall along the Mexican border has rapidly changed to the need for additional fencing in certain areas; his promise to immediately dismantle Obamacare has been clarified to reassure the nation that he will NOT be leaving millions of families uninsured. Trump has made it clear that the bombastic TV personality who commandeered the U.S. news media to reap billions in free campaign marketing is not the same Mr. Trump who will be leading the U.S.
- Even in his most virulent anti-immigration tirades, Mr. Trump has only taken shots at illegal immigration and terrorism. His anti-Muslim rhetoric resounded with many Americans, but it will not translate to any of the blanket policies which got him the media attention he wanted. Like the “wall turning into a fence” process, we can expect Mr. Trump’s administration to focus on the deportation of convicted felons illegally in the U.S. and improved pre-screening for inbound immigrants from countries plagued with terrorism, not the wholesale evisceration of U.S. migration laws.
- If there has ever been a U.S. president who understands the importance of foreign direct investment (FDI) in the U.S., it is Mr. Trump. Remember: the rants about rescinding trade policies all focused on the exporting of American jobs, a subject which endeared him to less-educated U.S. workers who, rightly or wrongly, blame globalization for the stagnant income situation for less educated Americans. But never has FDI been in Mr. Trump’s cross-hairs. In fact, INBOUND foreign investment to the U.S. has been a cornerstone of his colorful career as a developer, and he unabashedly gushes about how much he loves getting foreign investment dollars into his U.S. projects.
Those same disaffected American citizens who shocked a world still reeling from Brexit by electing Mr. Trump have been promised one overriding promise for the past year: more American jobs. That’s what EB-5 does. And Mr. Trump has a history with the EB-5 Regional Center Program. In fact, the Trump Tower in New Jersey was partially funded by EB-5 Investors, and he is very close to the most powerful NY developers who reap billions in EB-5 dollars annually. While it remains to be seen just how feasible EB-5 for those developers after TEA-abuse is ended via pending regulatory reforms, it is clear that they will STILL want EB-5 dollars, and Mr. Trump will almost assuredly support the continuation of the job creating stimulus that is the EB-5 Regional Center program. Furthermore, the two co-sponsors of the bi-partisan EB-5 reform bill which has been circulating for some time, Patrick Leahy, a Democrat from Vermont, and Chuck Grassley, a Republican from Iowa, were both re-elected to Congress. We believe with conviction that they will continue to push forward for the re-authorization of the EB-5 Regional Center program.
American Venture Solutions Regional Center remains confident that the EB-5 program will remain viable and in place for years to come. While the needed reforms will likely trickle in until U.S. immigration laws are comprehensively rewritten, the reality is that the EB-5 program is not a politically volatile issue in the U.S., and a LOT of American jobs continue to be created via EB-5, despite all the problems which need to be addressed.
For today’s EB-5 investors, the key for EB-5 success remains the same as always: as an educated and accredited investor, one MUST choose a project and a Regional Centers owned and operated by top tier professionals with impeccable backgrounds and proven success. You simply need most reputable folks at the wheel of your EB-5 “journey”. Though the future of the EB-5 Regional Center program isn’t totally clear, we here at American Venture Solutions EB-5 are confident that the program will be reauthorized in the near future, that under President-Elect Trump the EB-5 Visa will continue to thrive, and that AVS EB-5 will continue its untarnished tradition of helping families realize their dream of U.S. migration…one family at a time.
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