OPINION
In Support of the EB-5 Visa Program: What’s Next Now Borders are Secure?
Much attention has been given to the (new) Trump administration’s successes in securing our border. It’s been an impressive feat, especially given the complete disregard for law and order shown by the Biden administration.
But now that we’ve reduced the chaos at our physical borders — the question at hand is what legal immigration policy should look like.
These questions are now coming to the forefront of the national conversation; most recently, President Trump addressed several immigration policies in new executive orders.
We’ve ended the open border policies that jeopardized our country’s national security; now comes the less glamorous but equally important task of crafting sound immigration policy.
On Sept. 19, President Trump was asked about two types of visa programs: the EB-5 and the H-1B visas.
I’d like to first examine the EB-5 visa, though we’ll discuss the H-1B program a little later.
The characterization of EB-5 visas as adding jobs and value to America is accurate (and the President agrees).
In essence, the visa program offers priority access to permanent residency to foreigners who invest a significant amount of capital into the United States.
It requires a minimum investment of $1.05 million USD in a new or existing U.S. company (or a reduced threshold of $800,000 USD in rural or high-unemployment areas).
The EB-5 visa incentivizes and rewards tangible investment, meaning that immigration enriches, rather than depletes, American resources.
To understand why the EB-5 visa is so crucial, let’s look at a key principle of immigration: the Public Charge Rule.
The Public Charge Rule is a long-standing concept which states that admission to the U.S. may be denied if the alien is likely to become primarily dependent on the government.
This may sound like common sense, but given the excesses of the last administration, it’s an important reminder that immigration is meant to benefit America and her citizens.
No one is owed American citizenship and certainly isn’t entitled to the taxpayer’s dollar.
The EB-5 visa program beautifully aligns with the Public Charge Rule.
It positions us to conduct an extensive and effective vetting process of every applicant of the program, ensuring that those allowed entry to the United States are a good fit.
With programs like EB-5, we have highly regulated control over who is coming into America and when.
Per Forbes, the EB-5 visa program currently contributes $1-2 billion annually into the U.S. economy and creates 10,000-20,000 jobs.
That’s to say nothing of ripple effects in small local economies where private funding isn’t as prevalent.
With around 10,000 visas issued annually, the program delivers outsized returns, efficiently vetting applicants to bring productive and hard-working individuals to invest in America.
Critics of the EB-5 visa program often cite concerns that immigrants will fill or replace American jobs, hurting our citizens.
This is a legitimate worry of any immigration policy.
But the EB-5 system doesn’t harm American citizens or their opportunities — for two reasons. One, the program doesn’t import cheap labor, it prioritizes investors.
In addition to the capital investment requirements, applicants’ proposals must create or preserve at least 10 full-time jobs for U.S. workers (excluding the investor and their immediate family).
This means more opportunities for citizens, not less.
Second, recent developments in immigration policy bolster protections for American workers.
This complements the pro-investment tilt of the EB-5 program. On September 19, President Trump announced new rules for the H-1B visa (an oft-abused program allowing foreigners to work for U.S. companies), raising the fee for application to $100,000 per applicant.
The crackdown on H-1B abuses, coupled with investments through the EB-5 visas, represents an America-first policy that will enrich our country and citizens.
Let me close by circling back to where we started.
None of this — discussions about immigration reform, policy proposals, and the like — none of it matters if the border isn’t secure.
We saw what America looks like with open borders.
It’s impossible to enforce immigration policy when the “border” is non-existent.
The failures of the last administration meant that immigration policy itself became inapplicable; if you let everyone in, processes become irrelevant.
The recent return to law and order now opens conversations about legal immigration policy that before had been futile.
Priority number one: secure the border.
But a close second is implementing smart, effective immigration policies that enrich America and her citizens.
The EB-5 visa program does just that.
By prioritizing foreigners who represent a significant investment in America, the program ensures that immigration strengthens, instead of depletes, American resources.
Now that borders are secure, we get to choose who enters our country.
Utilizing the EB-5 program helps us choose well — keeping America prosperous now and for future generations.
Mark A. Morgan served as chief operating officer and acting commissioner of U.S. Customs and Border Protection (2019-2021).
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