By 365 Yeas to 65 Nays, the House of Representatives yesterday passed HR 1044, the House-version of the Fairness for High-Skilled Immigrants Act of 2019. The bill would eliminate the 7% cap for employment-based immigrant visas, of which the EB-5 is one.
Also the HR 1044’s companion bill in the Senate, S 386, previously considered non-viable, is now finding purchase following the reaching of an agreement between the bill’s sponsor – Senator Mike Lee (R-UT) – and its chief opponent – Senator Charles Grassley (R-IA) – pertaining to the law’s H1-B components.
Should the Senate also pass the S 386, a conference committee will have to reconcile the respective versions of the bill – which must, in turn, be approved by both chambers – before passing it on to the president. Once the president signs the bill – or Congress overrides his veto – the bill becomes law.
To understand more about how a passing of the Fairness for High-Skilled Immigrants Act would affect EB-5 backlogs and wait times, see Suzanne Lazicki’s analysis.
Christian Henrik Nesheim is the founder and editor of Investment Migration Insider, the #1 magazine – online or offline – for residency and citizenship by investment. He is an internationally recognized expert, speaker, documentary producer, and writer on the subject of investment migration, whose work is cited in the Economist, Bloomberg, Fortune, Forbes, Newsweek, and Business Insider. Norwegian by birth, Christian has spent the last 14 years in the United States, China, and Spain.