Article snippet: The giveaway for the wealthy Chinese lenders is buried on page 85 of Rounds’ draft bill, which offers a “parole” shortcut around the backlog of Chinese who are now waiting in line for EB-5 green cards: This parole language gives a citizenship shortcut to the foreigners who lend money to the U.S. real-estate industry in exchange for green cards via the EB-5 program. The program is such a giveaway that 73,000 foreigners have joined the line for the annual distribution of 10,000 green-card tickets to citizenship. But the EB-5 law includes individual “country caps” to help diversify the award of green cards. These country caps have some flexibility, but the rush of lenders means that Chinese who sign up in late 2019 face a 17-year wait to get their cards, while Indians must wait nine years for their cards. The long waits make it difficult for the U.S. real-estate industry to sell more EB-5 green cards to Indians or Chinese lenders. Rounds’ bill will fix that real-estate funding problem by allowing Chinese and Indians lenders to skip their waiting lines after just three years if they get “parole” from the secretary of the Department of Homeland Security. The foreigners have an obvious strategy to get parole: Persuade Rounds and other legislators to pressure the DHS secretary until the secretary quietly approves the parole requests. Congress has already used the same indirect strategy to import more H-2B visa-workers for executives in the landscaping industry. Rounds’... Link to the full article to read more