Destructive Obama Regulation Being Pushed by Trump Official
From: Townhall | Opinion
President Barack Obama pushed out a flurry of regulations intended on being political time bombs for the Trump Administration. A good percentage of those destructive regulations were undone by the Congressional Review Act and others were stopped by Trump Administration officials if the process to implement the proposed regulations had not started yet. One problematic regulation has been kept alive by a Trump Administration staffer deals with a niche immigration issue.
The regulation in question is President Obama’s last-minute regulations intended to sabotage the a business investor visa program going forward. The Real Deal (a New York real estate news platform) reported on February 14, 2017 “just before President Obama left office, the Department of Homeland Security proposed some serious rule changes to the EB-5 visa program, which awards green cards to foreign nationals investing in job-creating U.S. projects.” The reportquoted Angelique Brunner, spokesperson for the EB-5 Investment Coalition, said the proposed rules would spell the end of the program as we know it. “Undoubtedly the numbers in the regulations will kill the program,” Brunner told The Real Deal. “The market cannot bear those numbers… I think you would see as much as a 90-percent dropoff in demand.” The rules that included hikes in investment requirements and areas to invest were clearly intended to kill the program through regulatory proposals that make the program unworkable.