Trump Administration Expected to Cancel Start-up Visa Program
President Donald Trump’s administration is postponing a program that provides visas for foreign entrepreneurs to launch companies in the United States. It plans to review whether or not to cancel the program.
The program, known as “start-up visa,” was announced last year by then-President Barack Obama. It was designed to give entrepreneurs permission to live in the U.S. for 30 months to start their companies.
The program would give a visa to non-U.S. citizens who make $250,000 in investments or win $100,000 in government grants to support their proposals. These visas could be renewed.
Leaders in the technology industry had asked the Trump administration to put the program in place. They believe it is a way for immigrants to come to the U.S. to start new companies and create more jobs. The Department of Homeland Security (DHS) had estimated that almost 3,000 entrepreneurs would be eligible for such visas each year.
The program was to have taken effect next week. But DHS has published a noticedelaying the start of the program until March 14, 2018.
The notice says DHS plans to cancel the program, but is asking for reaction from the public before it makes a final decision.
Steve Case is an entrepreneur who founded the tech company AOL. He said delaying the start-up visa program is a “big mistake.” Case wrote on Twitter: “Immigrant entrepreneurs are job makers, not job takers.”
Bobby Franklin is the president of the National Venture Capital Association, an organization for start-up investors. He called the administration’s decision “extremely disappointing.”
“At a time when countries around the world are doing all they can to attract and retain talented individuals” he said, “the Trump administration is signaling its intent to do the exact opposite.”
U.S. Citizenship and Immigration Services, a department of DHS, said it delayed the rule to meet the requirements of one of President Trump’s executive orders that limited the ability of federal officials to permit foreign nationals to remain in the United States.
I’m Pete Musto.
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Words in This Story
entrepreneur – n. a person who starts a business and is willing to risk loss in order to make money
start-up – adj. a new business
eligible – adj. able to be chosen for something; able to do or receive something
attract – v. to cause (someone) to choose to do or be involved in something
retain – v. to keep (someone) in a position, job, etc.
signal – v. to make a sound or motion that tells someone something
intent – n. the thing that you plan to do or achieve; an aim or purpose