A popular, yet controversial U.S. immigration program that grants "visas to millionaires" is feeling the heat, weeks before it is up for renewal.
On Sept. 30, the EB-5 Immigrant Investor Program — under which foreigners have invested billions of dollars in the U.S. to obtain permanent resident status in the country — is set to expire. It has helped tens of thousands realize their American dream, but it is facing sharp criticism over misuse as politicians and government officials call for radical reforms and have even suggested scrapping the 28-year-old program.
U.S. Sen. Chuck Grassley wrote a letter to President Donald Trump in June saying that the EB-5 program has become riddled with fraud, while Lee Francis Cissna, director of U.S. Citizenship and Immigration Services, has asked Congress to allow the program to lapse in the absence of significant reforms, as there have been concerns about fraud, abuse and national security risks.