President Donald Trump’s State of the Union address last Tuesday night offered some sensible recommendations for immigration reform. Unfortunately, he omitted a few things – such as the need to fix the EB-5 visa program. The EB-5, authorized by the Immigration Act of 1990, allows persons from abroad who invest in a U.S. startup business to become lawful permanent residents. All too often, it is an invitation to fraud and self-dealing.
The EB-5 visa, intended to spur business development, offers a green card for immigrant small venture capitalists. The visa holder must invest at least $1 million in a “new commercial enterprise” or at least $500,000 if the enterprise is located in a designated Targeted Employment Area. Upon approval of a petition, the investor and dependent family members may obtain a green card. The investor must show that the investment has created or preserved at least 10 permanent domestic … Read More ➡
After saying shortly after the inauguration that he expected Donald Trump to do “evil things,” Alphabet (parent company of Google) executive chairman Eric Schmidt was back with another rant earlier this month about the president.
This time the adjective addressed intellect rather than malevolence. Schmidt seized an opportunity to vent at MIT’s Computer Science and Artificial Intelligence Lab, bemoaning limits on special visas for foreign workers in “special occupations,” mainly high-tech fields. But the target of his frustration wasn’t just the president.
“I spent the last 20 years announcing that the single stupidest policy in the entire American political system was the limit on H-1B visas,” Schmidt said. “I have recently been trumped (pun apparently intended) by an America where you take the highly legal and highly technical people of seven countries … and you keep them trapped at JFK so our lawyers can spring them out.”
When it comes to President Donald Trump and knee-jerk reactions to policy decisions without gathering all the facts, it seems the mostly liberal CEOs of the best-known Silicon Valley companies can’t help themselves. They would rather shoot from the lip first, taking their cues from all the president’s leftist enemies, instead of gathering all the evidence and speaking responsibly on the issues – if at all.
It happened again over the weekend, this time in response to the President’s executive order that temporarily suspended the admission of foreign nationals into the United States from seven countries – Iraq, Syria, Iran, Libya, Somalia, Sudan and Yemen – which are viewed as sources of potential threats, based upon security reviews by Obama administration officials. The reason for the suspension, Trump explained, is so appropriate security agencies that normally screen foreign nationals entering the country would have the time and … Read More ➡