Key congressman seeks probe into why 80 percent of U.S. foreign investor visas going to China

 

House Judiciary Committee Ranking Member Jim Jordan (R-Ohio) and Rep. Guy Reschenthaler (R-Penn.) have asked the an investigative arm of Congress to investigate China’s involvement in America’s EB-5 Immigrant Investor Visa Program.

In a letter Monday to the Comptroller General of the U.S. Government Accountability Office, the lawmakers said the program was meant to encourage foreign capital investment and job creation in America but it appears it is being exploited by the Chinese Communist Party.

“Although the EB-5 program’s goal of stimulating capital investment and job creation in the United States is laudable, it has become clear in recent years that the CCP may be abusing the program to gain access to U.S. permanent residency for their members,” the letter says. “Between 2012 and 2018, 80 percent of the nearly 10,000 EB-5 visas available each year went to Chinese-born investors.”