EB5 Investors Magazine Volume 2 Issue 1 | Page 25

assurance steps. However, the agency did not agree that it was within its scope to evaluate the impact of the EB-5 program, outside of adjudicating individual cases. The response from USCIS is reflective of ongoing improvements within the agency. In fact, criticisms of the report called out the failure to include major reforms enacted within USCIS over the past four years. The OIG responded to such criticisms by stating that the audit was limited to the time period prior to Nov. 29, 2012, before details of the USCIS transformation were released. Nonetheless, it is important to note that actions initiated by USCIS after the release of the OIG report will be but a continuation of initiatives made within the agency to streamline the process, utilize professional expertise, bolster security, and ensure consistency. Legislative action In the wake of the OIG report, congressional leaders are already looking at additional legislation addressing the enforcement and compliance side of the EB-5 Regional Center programs. Both the House and Senate sides are drafting legislation to address these issues. The Office of the Inspector General is not the first body to put EB-5 under the microscope and propose change. The U.S. Senate recently passed legislation addressing the EB-5 program through its comprehensive bill—S. 744, The Border Security, Economic Opportunity, and Immigration Modernization Act. However, it is common wisdom amongst immigration reform advocates that this bill will not be the vehicle through which immigration reform occurs. Although many of the reform provisions in this bill make sense, a separate piece of legislation is being contemplat