CQ reported that: One of the most liberal Democrats in the Senate is joining a rising star among Republican conservatives to offer legislation that would use the visa process to entice foreigners to buy property in the country.
The bill, offered jointly by New York Democrat Charles E. Schumer and Utah Republican Mike Lee, would grant foreigners a three-year residency visa if they buy residential property worth $500,000 or more. At least half of that would have to be spent on a personal residence where the buyer would have to live for at least 180 days per year, and it would not count as a path to citizenship.
The proposal represents a rare moment of bipartisan comity over «immigration, an area where Democrats and Republicans have found themselves increasingly at odds. In recent months, lawmakers have disagreed vehemently over the best way to deal with the 11 million illegal immigrants living in the United States. This week, the Obama administration announced it had deported a record 400,000 people, an announcement that managed to please neither side.
Despite their protracted stalemate, there are signs that the parties could come to an agreement on some issues. Both Democrats and Republicans have voiced support for legislation that would make it easier for foreign students who earn advanced degrees in math, science or engineering from American universities, or who start businesses, to obtain green cards. One such bill is scheduled for markup in the House next week.
Trying to Boost Housing Sector
The idea behind the Lee-Schumer proposal is to lift the U.S. housing market out of its prolonged slump. If American buyers can't afford homes anymore, the senators hope wealthy foreign buyers can swoop in to rekindle demand. Taxes paid by those new residents could also help government budgets, the senators said.
Foreign homebuyers would still be subject to standard criminal background checks and would not be able to receive government benefits such as Medicare, Medicaid or Social Security.
The bill also attempts to make the visa process easier and quicker for foreign visitors to get permission to enter the country. For instance, it would allow Canadians to remain in the country for longer than 180 days, which they are currently forbidden to do. Chinese visitors could apply for five-year multiple-entry visas rather than one-year visas. Those coming from countries allied in the fight against terrorism and those willing to pay a higher fee could also see shorter wait times for visas.
"This is not a cure-all, but it could be part of the solution to the housing crisis and won't cost the government a nickel," Schumer said in a written statement.
Lee said the bill offered "a free-market method for increasing demand for housing at a time when so many working-class Americans are underwater on their homes."
The bill, offered jointly by New York Democrat Charles E. Schumer and Utah Republican Mike Lee, would grant foreigners a three-year residency visa if they buy residential property worth $500,000 or more. At least half of that would have to be spent on a personal residence where the buyer would have to live for at least 180 days per year, and it would not count as a path to citizenship.
The proposal represents a rare moment of bipartisan comity over «immigration, an area where Democrats and Republicans have found themselves increasingly at odds. In recent months, lawmakers have disagreed vehemently over the best way to deal with the 11 million illegal immigrants living in the United States. This week, the Obama administration announced it had deported a record 400,000 people, an announcement that managed to please neither side.
Despite their protracted stalemate, there are signs that the parties could come to an agreement on some issues. Both Democrats and Republicans have voiced support for legislation that would make it easier for foreign students who earn advanced degrees in math, science or engineering from American universities, or who start businesses, to obtain green cards. One such bill is scheduled for markup in the House next week.
Trying to Boost Housing Sector
The idea behind the Lee-Schumer proposal is to lift the U.S. housing market out of its prolonged slump. If American buyers can't afford homes anymore, the senators hope wealthy foreign buyers can swoop in to rekindle demand. Taxes paid by those new residents could also help government budgets, the senators said.
Foreign homebuyers would still be subject to standard criminal background checks and would not be able to receive government benefits such as Medicare, Medicaid or Social Security.
The bill also attempts to make the visa process easier and quicker for foreign visitors to get permission to enter the country. For instance, it would allow Canadians to remain in the country for longer than 180 days, which they are currently forbidden to do. Chinese visitors could apply for five-year multiple-entry visas rather than one-year visas. Those coming from countries allied in the fight against terrorism and those willing to pay a higher fee could also see shorter wait times for visas.
"This is not a cure-all, but it could be part of the solution to the housing crisis and won't cost the government a nickel," Schumer said in a written statement.
Lee said the bill offered "a free-market method for increasing demand for housing at a time when so many working-class Americans are underwater on their homes."
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