CEO DATELINE - Venture capital association sues feds on immigration decision
CEO DATELINE - Venture capital association sues feds on immigration decision
- September 20, 2017 |
- Walt Williams
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The National Venture Capital Association is suing the Trump administration on its decision to delay a new rule allowing immigrants to work in the U.S. if they were attempting to launch new businesses, the Wall Street Journal reported Tuesday.
The Obama-era rule would let foreign entrepreneurs apply to work in the U.S. if their startup businesses raised at least $250,000 from domestic investors, or if they showed other compelling evidence for potential for rapid growth, according to the newspaper. However, the Department of Homeland Security delayed implementation of the rule before it was supposed to go into effect in July, pushing the starting date back to early 2018. The agency is also seeking public comment about whether to rescind the rule.
In its lawsuit, NVCA contends DHS violated administrative procedures by issuing a delay. The group is asking U.S. District Court for D.C. to reverse the delay and allows entrepreneurs to start applying for temporary work status.
DHS declined to comment about the lawsuit when contacted by the newspaper. http://on.wsj.com/2hindfs
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