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This Week in Entrepreneurship Policy: Immigrant Investor Program Under Review

In late December, Congress temporarily extended a 25 year old initiative called the EB-5 "Immigrant Investor" program that is intended to attract wealthy foreign investors to the U.S. to back promising new startups – and provide jobs for Americans. While the program generated more than $5 billion in investment between 2005 and 2013, it hasn’t been so successful at translating that into jobs. This week, the Senate Committee on the Judiciary examines the EB-5 Regional Centers that account for 95% of all EB-5 capital. 

The same committee will also take a look at occupational licensing and hear from Jason Furman, chairman of the Council on Economic Advisors along with Maureen Ohlhausen, commissioner of the Federal Trade Commission and others. The Kauffman Foundation’s Jason Wiens covers the topic of licensing and its impact on new firm formation for the California state government.

On the House side, Keith Hall, director of the Congressional Budget Office appears before the House Budget Committee to walk through the latest figures showing a projected deficit and growing debt over the next 10 years if current laws remain unchanged. The report estimates the 2016 deficit will be $544 billion, an increase of $105 billion over last year’s figures. Meanwhile, the House Small Business Committee has rescheduled a trio of hearings on the Small Business Administration.

Other topics covered by committee hearings this week include: technology transfer in Veterans’ Affairs, rural broadband, immigration and more.

HOUSE

SBA Management Review: Oversight of SBA’s Entrepreneurial Development Offices
House Committee on Small Business
Subcommittee on Economic Growth, Tax and Capital Access
2360 Rayburn HOB
Tuesday, Feb. 2
11:00 am

Reaching America’s Potential: Delivering Growth and Opportunity for All Americans
House Committee on Ways & Means
1100 Longworth HOB
Tuesday, Feb. 2
10:00 am

H.R. 1675 - Encouraging Employee Ownership Act of 2015
House Committee on Rules
H-313 U.S. Capitol Building
Tuesday, Feb. 2
3:00 pm

Status of the Public Safety Broadband Network
House Committee on Energy and Commerce
Subcommittee on Communications and Technology
2322 Rayburn HOB
Tuesday, Feb. 2
10:15 am

SBA Management Review: Office of Government Contracts and Business Development
House Committee on Small Business
Subcommittee on Contracting and Workforce
2360 Rayburn HOB
Wednesday, Feb. 3
3:00 pm

Lost Opportunities for Veterans: An Examination of VA’s Technology Transfer Program
House Committee on Veterans’ Affairs
334 Cannon HOB
Wednesday, Feb. 3
10:00 am

Charting a Course: Expert Perspectives on NASA’s Human Exploration Proposals
House Committee on Science, Space and Technology
Subcommittee on Space
2318 Rayburn HOB
Wednesday, Feb. 3
10:00 am

CBO’s Budget and Economic Outlook
House Committee on the Budget
210 Cannon HOB
Thursday, Feb. 4
9:30 am

Views and Estimates on the President’s FY 2017 Budget for the Small Business Administration
House Committee on Small Business
2360 Rayburn HOB
Thursday, Feb. 4
9:00 am

Examining Implementation of the Biologics Price Competition and Innovation Act
House Committee on Energy and Commerce
Subcommittee on Health
2123 Rayburn HOB
Thursday, Feb. 4
10:30 am

Another Surge of Illegal Immigrants Along the Southwest Border: Is this the Obama Administration’s New Normal?
House Committee on the Judiciary
Subcommittee on Immigration and Border Security
2141 Rayburn HOB
Thursday, Feb. 4
9:00 am

SENATE

The Failures and Future of the EB-5 Regional Center Program: Can it be Fixed?
Senate Committee on the Judiciary
226 Dirksen Senate Office Building
Tuesday, Feb. 2
10:00 am

License to Compete: Occupational Licensing and the State Action Doctrine
Senate Committee on the Judiciary
Subcommittee on Antitrust, Competition Policy and Consumer Rights
226 Dirksen Senate Office Building
Tuesday, Feb. 2
2:00 pm

Ensuring Intermodal USF Support for Rural America
Senate Committee on Commerce, Science and Transportation
Subcommittee on Communications, Technology, Innovation, and the Internet
253 Russell Senate Office Building
Thursday, Feb. 4
10:30 am

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