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Sep 28, 2016

Overnight Reversal: Senate Advances Continuing Resolution (UPDATED)

Matthew Galati

In a happily surprising reversal from yesterday’s developments, the U.S. Senate today has advanced the Continuing Resolution which will extend the EB-5 Regional Center program until December 9 without change.

The Senate’s change in heart comes after Democratic and Republican lawmakers were able to strike a deal overnight regarding the Flint water crisis.

The CR will now move onto the House where it is expected to pass. The House vote vote may be as early as today. The President is also expected to sign the bill into law before expiration at midnight, Friday, when the program would otherwise lapse.

Stay tuned for further developments.

 UPDATE -- Sep. 29, 2016:

The CR passed the U.S. House as expected and was signed into law by President Obama early this morning. The EB-5 Regional Center program is extended without change until Dec. 9.

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