Miller Mayer’s Steve Yale-Loehr Quoted Regarding Immigration Legislation, EB-5

On Immigration Legislation:

USA Today: House GOP Releases Compromise Immigration Legislation That Would Protect DREAMers, Fund Wall

Mr. Yale-Loehr noted, “Trump should be happy with this bill because it’s pretty close to what he put forth in his four pillars. It’s really not a compromise. There’s not a lot here that would help immigrants, other than putting DACA recipients on a slow path to a green card.”

On EB-5:

Real Deal: South Florida is Coming Off Its EB-5 Addiction: Developers Now Less Reliant on Cash-for-Visa Program to Fill Capital Stack

Mr. Yale-Loehr noted, “In 2008 or 2009, developers could not find other access to capital.” He also said that interest from Chinese investors in the program is waning due to a growing backlog of visa seekers, which is adding significantly to the waiting period for a green card. “They don’t want to wait over a decade to get an EB-5 green card.” He added that all EB-5 investors “need to be careful about what project they are investing in.”