Even Obama knew this was a bad policy, which is why he waited until his final days in office to execute the new rule.
President Trump has halted and is planning to scrap an eleventh-hour Obama deal that allowed a foreigner to circumvent the typical immigration process and buy their way into America (via Dennis Micheal Lynch).
With only three days left in office, former President Obama executed the International Entrepreneur Notice of Proposed Rule, allowing foreigners to live in America on “parole” if they invest in startup companies.
The new rule was scheduled to come into effect on July 17th, but President Trump has pushed back the launch of the program with the intention of ending it for good.
The Department of Homeland Security (DHS) released a statement announcing the delay and claimed that they do not have the resources to maintain additional immigration programs.
The DHS says they could not vet the new immigrants because “those resources are otherwise needed for USCIS to effectively and efficiently carry out its many existing immigration benefit programs facilitating lawful migration into the United States.”
The program is being delayed since it probably will be scrapped anyway, and it is not worth wasting resources on a program that is doomed to end.
The Obama immigration program would have allowed approximately 3,000 additional immigrants into the country each year if they were capable of paying.
Under the program, foreigners would have been able to buy their way into the country if they agreed to invest as little as $250,000 into a start-up company. The “parole” would only be extended past the first year if at least five jobs were created. If accomplished, that “parole” would eventually lead to citizenship.
Essentially, wealthy foreigners would be able to purchase their way into America. Investing in our country is a privilege on its own, so the cost of obtaining American citizenship was low for anyone who has the money to invest.
This program could have been easily taken advantage of by wealthy terrorist organizations with endless front groups hoping to gain a foothold in America.
By retracting this rule, President Trump remains committed to creating a fair immigration policy that benefits Americans–not foreigners.