USA Election Day: When Will the Next President Be Known?November 3, 2020
Both Democrats and Republicans have been pushing to engage voters and urge them to exercise the right to vote. States have also pressed to get the vote out by making mail-in ballots and in-person early voting available. By some accounts, as many as 97 Million Americans have already voted early. Understanding it requires additional time to count such a large number of mail-in votes, some states may not be able to predict a winner on election night.
The U.S. Constitution prescribes choosing a president, not by the popular vote, but by a system known as the Electoral College. The Electoral College is a group of 538 electors from all 50 states and determined by the state’s population. To win the presidency, a candidate needs to have 270 of the electoral votes. While the number of popular and electoral votes a candidate wins should be known shortly after Election Day, the Electoral College will meet to officially decide the election on December 14, 2020.
How Will the Election Affect The EB-5 Program?
Regardless of who the next President might be, we at CMB anticipate continued support for the EB-5 program. Throughout its existence, the EB-5 program has garnered wide bi-partisan support amongst both Democrats and Republicans due to its massive job creation potential. As COVID-19 has impacted both the U.S. and global economies, it would seem unlikely that the outcome of the election would negatively impact EB-5, which has proven to be a valuable tool for economic stimulus.
The Trump administration has continued to recognize the value of the program, leaving EB-5 exempt from recent executive orders directed at curbing immigration during the pandemic. We would anticipate similar support for the EB-5 visa program should Joe Biden be elected the next President of the United States. Good news for EB-5 investors.
CMB’s history spans four different Presidents and 23 years of successfully helping investors from over 100 countries immigrate to the United States. No matter the President or what party they represent, CMB will continue to be the leader in EB-5 by offering sound EB-5 opportunities and creating American jobs through the EB-5 program.
CMB EB-5 Regional Centers engages Prevail Capital, LLC, a broker-dealer registered with the SEC and a member of FINRA and SIPC, to be the administrative placement agent for all CMB EB-5 projects. If you would like to learn more being part of the EB-5 Investor Visa Program, please contact CMB Regional Centers.