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Xi Jin Ping and Communist Chinese Elite President Joe Biden and members of Congress reauthorized a little-known program that peddles United States visas, and eventually naturalized American citizenship, to China’s wealthy real estate investors.
Lawmakers in the House and Senate passed a government funding bill late last week, later signed by Biden, that renews the EB-5 visa program where wealthy foreign nationals can claim to invest at least $800,000 in U.S. development projects and receive green cards for themselves and their family members with eventual pathways to citizenship.
Most significantly, the program is a boon to China’s elite who secure green cards to the U.S. for themselves and their families under the guise of investing in U.S. real estate. For years, China’s elite have taken the bulk of EB-5 visas.
When the program lapsed in June 2021, about 80,000 foreign nationals — most of whom are from China — had their green card processing halted.
Included in the bill, though, are a number of reforms pushed by Sens. Chuck Grassley (R-IA) and Patrick Leahy (D-VT). Specifically, the Grassley-Leahy reforms include annual reporting requirements to the Department of Homeland Security (DHS), a prohibition on foreign nationals implicated in fraud and foreign government officials from receiving EB-5 visas.
As Breitbart News has reported , 10,000 foreign nationals and their families are allowed to enter the U.S. every year on the EB-5 visa. Though the program claims to revitalize underserved American neighborhoods, most investments are used to build luxury real estate.
As CityLab noted , New York City’s billion-dollar Hudson Yards project, which has subsequently driven up rents in the neighborhood, was funded by foreign EB-5 investors: Hudson Yards, of course, is nobody’s idea of distressed . Located at the source of New York’s High Line, it’s the most expensive real-estate project in U.S. history. It could not […]
Yes, We Need Your Help
I hate being “that guy” who asks people to donate because I think our conservative news network is so crucial, but here I am…
When I left my cushy corporate job in 2017, I did so knowing that my family would have to make sacrifices. But I couldn’t continue to watch the nation slip into oblivion and was inspired by President Trump’s willingness to fight the good fight even at his own personal expense. What I didn’t realize then is that conservative media would be so heavily attacked, canceled, and defunded that the sacrifices would be extreme.
Many in this nation are struggling right now even though we weren’t struggling just a few years ago. I’m not alone. But I wake up every morning and operate the sites we’ve been able to build because there’s really no other choice. I refuse to be beholden to Big Tech like so many other conservative news outlets, which is why you won’t see Google ads here. With that said, it’s often challenging to pay the bills and it’s even harder to expand so we can get the America First message out to a wider audience.
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