'Green cards for cash' facing questionable future
Some Congress members refuse to re-authorise the visa programme which critics say encourages a 2-tier immigration system
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Washington
THE original plan was to attract foreign investment to blighted neighbourhoods. But instead, the controversial EB-5 investor visa enabled affluent Chinese to park their cash in high-end real estate in Beverly Hills and Manhattan - benefiting developers such as Donald Trump and his son-in-law, Jared Kushner.
Now, the visas criticised as "green cards for cash" face a questionable future, with some members of Congress refusing to re-authorise the programme, which expires on Friday, unless there is significant reform. Proponents of the programme argue that the investor visas provide capital for economic development. Critics say it encourages a two-tier immigration system favouring the rich over those fleeing wars, persecution and poverty.
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