US Senate Majority Leader, Mitch McConnell filed a Continuing Resolution (CR) that would extend federal funding through December 9, 2016. With the fiscal year coming to an end on September 30, the bill prevents a government shutdown and extends federal funding for government programs, including the EB-5 Regional Center Pilot Program. The legislation is a clean extension of the Regional Center Pilot program, but only through the end of the funding period. Congress will need to revisit EB-5 legislation before the CR ends.
With only seven days until the end of the fiscal year, lawmakers from both parties continue to debate sticking points in the resolution. The Senate has scheduled a cloture vote on the CR for Tuesday 9/27 at 2:15 pm EST.