In a wide-ranging and insightful conversation, CanAm Enterprises COO Christine Chen sat down with EB-5 immigration attorney and industry advocate Carolyn Lee to unpack the implications of President Trump’s newly passed immigration legislation—coined the “Big Beautiful Bill.” The discussion offered clarity, reassurance, and practical foresight for investors navigating the EB-5 program amidst broader immigration reform.
What Is the “Big Beautiful Bill”?
The bill represents a sweeping package of immigration and enforcement changes passed under the Trump administration, with major provisions addressing border security, inadmissibility, and pathways to citizenship. “It’s a very big piece of legislation… and immigration is just a piece in that larger bucket,” Carolyn Lee noted. Despite its breadth, one of the biggest takeaways for EB-5 investors is what isn’t in the bill.
“The Big Beautiful Bill does not directly affect anything related to EB-5 investment immigration.” – Carolyn Lee
EB-5 Remains Untouched—for Now
For current and prospective EB-5 investors, this is a critical point. As Christine emphasized, “As sweeping and wide-reaching as this bill is, it’s not looking to negatively impact any legal pathways to immigration—EB-5 included.”
Carolyn added, “We’re in investment immigration. We’re bringing jobs and foreign investment. I was very sure from the get-go that none of the sweeping enforcement-related changes would affect our space directly.”
However, both agreed that EB-5 investors should remain alert and aware of the broader policy environment. “We are in a compliance and enforcement immigration environment,” Carolyn said. “So while EB-5 is not directly impacted, the tone matters.”
How EB-5’s Integrity Reforms Align with Enforcement Priorities
The passage of the EB-5 Reform and Integrity Act of 2022 (RIA) brought a sweeping overhaul to the program, focused on fraud prevention, oversight, and transparency. These measures align with the broader enforcement spirit of the Big Beautiful Bill.
“We have the RIA with many provisions that are much more closely regulating the EB-5 industry right now… and I think we’re just about there.” – Carolyn Lee
The integrity measures now in place—such as fund administration, annual audits, and regional center oversight—mean the program is better equipped to stand up to scrutiny. As Christine noted, “A lot of what’s in place now are things that CanAm and other reputable operators have been doing for years.”
Why Continued Clarity and Guidance Matter
While the RIA lays a strong foundation, both panelists emphasized the need for more interpretive guidance from USCIS. “The legislation provided a framework, but the devil is in the details,” Christine said. “There’s still a tendency to interpret guidance in ways that benefit one party over another. More clarity would help everyone.”
Carolyn echoed this sentiment and called for open, good-faith dialogue between USCIS and EB-5 stakeholders. “This is such a complex program… and I think we really need forums where issues can be discussed, even informally, to avoid unintended consequences.”
The Need for Permanent EB-5 Reauthorization
Looking ahead, both Christine and Carolyn identified permanent reauthorization as the key to program stability.
“The larger problem is that we don’t have permanent reauthorization… that’s what we really need as a foundational matter.” – Carolyn Lee
The current authorization for EB-5 sunsets in 2027, and while the five-year runway provided by the RIA is welcome, the looming sunset prevents long-term institutional knowledge and policy development.
Christine added, “There’s demand among highly educated, entrepreneurially successful immigrants. If we can stabilize the program long-term, we can attract and retain the kind of investors who truly enhance the U.S. beyond their EB-5 dollars.”
What the Bill Signals for Adjudications and Processing Times
One practical question on the minds of many investors is whether the Big Beautiful Bill will slow down petition adjudications.
Christine raised a concern echoed by many: “With more scrutiny and more enforcement, will adjudication times lengthen?”
Carolyn responded, “Quite possibly. We don’t have transparency right now from USCIS about how resources are being allocated. In past administrations, we had stakeholder meetings and updates. That’s missing now.”
The potential for increased Requests for Evidence (RFEs) and Notices of Intent to Deny (NOIDs) could follow as well. Still, both speakers stressed that for most investors in lawful status, especially those using Adjustment of Status, protections remain in place.
The Role of Adjustment of Status in a Tougher Environment
“Concurrent adjustment of status is a gift that just keeps on giving—especially in these uncertain times.” – Carolyn Lee
The concurrent filing provisions in the RIA allow eligible investors already in the U.S. to file for adjustment of status alongside their I-526E petition. This provision brings tremendous benefits: lawful stay, employment authorization, and advance parole.
However, Carolyn warned, “It’s not an invitation to be complacent. This is the time to consult experienced advisors and make sure past and present issues are fully understood and disclosed.”
“There’s nothing more disheartening than reaching the end of a long process only to face denial because of something that could have been identified years earlier.”
Fee Increases and Budget Pressure: What Comes Next?
The Big Beautiful Bill could lead to greater budget demands on USCIS. Could EB-5 be tapped again for more revenue?
Christine posed the question, and Carolyn was quick to raise a key concern:
“We had unbelievable fee hikes recently… without the fee study that was supposed to come under the RIA. That’s not good.”
While it’s unclear whether EB-5 fees will increase further before 2027, both experts suggested that any major changes would likely be bundled into the next reauthorization window.
Looking Forward: Build Bigger, Think Long-Term
Despite the uncertainty, the conversation closed on an optimistic and action-oriented note.
“Our biggest challenge is not thinking big enough. Let’s envision a predictable, stable program that runs without dramatic spikes and nadirs. Let’s build on the success of the RIA.” – Carolyn Lee
Christine agreed: “We’ve seen what EB-5 can do—especially in rural areas and infrastructure. The intensity of interest we’ve seen since the RIA has surprised even us. It’s proof that the program works.”
Final Thoughts: Stay Informed, Stay Prepared
The Big Beautiful Bill is a landmark in immigration enforcement, but for EB-5 investors, it is also a reminder to stay vigilant, informed, and proactive. While EB-5 remains insulated from many of the bill’s provisions, it exists within a larger immigration system undergoing significant scrutiny.
With the right guidance, careful preparation, and a long-term vision, EB-5 remains one of the most powerful tools for achieving permanent residency in the U.S.
“Now is the time. Let’s think beyond 2027—and let’s go for it.” – Carolyn Lee
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