Utah Congressman Jason Chaffetz is the lead Republican cosponsor to H.R.6210, The American Investment and Job Creation Act, introduced today in the House of Representatives. This bipartisan legislation, sponsored by Congressman John Conyers (D-MI), would amend existing immigration laws to help spur new foreign investment, business development, and job creation in the United States.
"This bipartisan legislation is a common-sense approach to fixing the legal immigration system in this country," said Chaffetz. "This bill does not increase the number of visas available. It refocuses current immigration laws to provide opportunities for highly educated and skilled entrepreneurs to establish small businesses."
H.R. 6210 would incentivize entrepreneurs to invest in the American economy by prioritizing existing green cards for those who establish new businesses and can create and sustain jobs for American workers. Individuals are only eligible if they have established a new business that has created and sustained direct, full-time employment for at least five U.S. workers over the last four years, and has generated enough revenue or investment to sustain such job creation.
Current immigration laws provide 140,000 annual "employment-based" green cards for needed workers in our economy. Immigrant entrepreneurs who start businesses and create jobs are only eligible for temporary visas, such as E-2 "treaty investor visas." H.R. 6210 would allow entrepreneurs to qualify for existing employment-based green cards.
"By providing opportunities to create new small businesses, we can help spur economic growth and increase employment opportunities for American workers," Chaffetz added.
H.R. 6210 is supported by the U.S. Chamber of Commerce, the National Venture Capital Association, and the National Small Business Association.