U.S. Chamber of Commerce Submits Comments on Proposed DHS EB-5 Rulemaking

The U.S. Chamber of Commerce submitted formal comments to the Department of Homeland Security regarding the Notice of Proposed Rulemaking on the EB-5 Reform and Integrity Act of 2022. The Chamber stated that its members have a significant interest in the EB-5 program, noting it generates billions of dollars in foreign capital and supports job creation. The Chamber supports the integrity objectives of the Act but argues that several provisions extend beyond the original statute and could impose obligations that businesses and institutional investors cannot practically meet.

The submission warns that the proposed rules risk reversing settled agency policy without explanation. The Chamber cautions that these provisions could lead to reduced participation from the strongest capital sources and largest employers, thereby undermining the program's job-creation purpose.