According to information provided by the Worldway Immigration Group's customer service center in Los Angeles: On the evening of January 19, the Senate failed to pass a temporary funding bill, resulting in the federal government officially shutting down at midnight on January 20. This also means that the EB-5 Regional Center Program is temporarily suspended.
The U.S. federal budget for the fiscal year 2016-2017 expired last October, and the two parties failed to reach an agreement on the new fiscal year's budget, only agreeing to raise the debt ceiling for three months. In December of last year, Congress passed short-term budget bills twice, with January 19 being the last day of the short-term budget. On January 18, the House of Representatives passed the temporary budget bill with a vote of 230 to 197; on the evening of January 19, the Senate failed to pass the temporary budget bill, which means the federal government was forced to shut down on the anniversary of Trump's inauguration.
The shutdown of federal government agencies has forced federal employees to take leave, and many services have been suspended. U.S. media analysis indicates that the shutdown will have widespread social and economic impacts, resulting in a daily loss of approximately $6.5 billion, which includes passport delays and visa office closures, the closure of 19 national museums, NASA suspending certain projects, and public services in Washington, D.C. being halted.
The federal government has faced shutdowns due to budget issues multiple times in the past. Statistics show that since 1977, federal government departments have partially shut down more than 10 times, with closures lasting from one day to several weeks. The most recent shutdown occurred in October 2013, when, aside from essential functions such as national security, other agencies were closed, forcing approximately 800,000 employees into leave status and 1.3 million employees into unpaid work status.
For the vast number of EB-5 investors, there is no need to panic. The government will not remain in a shutdown state indefinitely; Congress needs to reach an agreement on the federal budget as soon as possible. Although the two parties continue to dispute, they will still move towards compromise, and thus the EB-5 Regional Center Program is likely to be included and receive an extension. Regarding the issue of the U.S. government shutdown, a good friend of Worldway, former president of the American Immigration Lawyers Association, Attorney Bernard Wolfsdorf, predicts that it may be resolved within a week.
Worldway Group reminds everyone that if you have applications that are being prepared for submission, you must fully cooperate with your lawyer's related preparations and submit them to the immigration bureau as soon as possible. If you intend to immigrate to the United States, please choose high-quality EB-5 projects and professional immigration companies to make adequate preparations for immigration to the United States. Before the policy changes, you still have the opportunity to apply at the current lower investment amount! Seizing the opportunity is seizing wealth!
Worldway Immigration Group will continue to monitor the latest developments in Congress and provide timely updates. Please pay attention to the Worldway Immigration Group's official website and WeChat public platform. If you have any questions regarding related matters, please feel free to contact us.
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