Sen. Bob Casey Supports Visa Program for Chinese Nationals

BETHLEHEM, Pa. — Senator Bob Casey (D-Pa.) has garnered financial backing from the Immigrant Investors Association/Invest in the USA PAC, a group advocating for the expansion of the EB-5 visa program, which primarily benefits Chinese nationals seeking U.S. residency. According to Federal Election Commission filings, Casey accepted a $5,000 donation from the PAC on June 24, making him the only 2024 Senate candidate to receive such support. The EB-5 program allows foreign investors to obtain permanent residency by investing in job-creating projects in the U.S. The EB-5 program has seen a significant influx of interest from wealthy Chinese individuals, particularly as China's economy faces challenges and its government adopts more authoritarian measures. In fiscal year 2022, Chinese nationals accounted for the majority of EB-5 visa applicants, with 6,125 out of a total of 10,855 visas issued. The State Department recently announced that it has reached its EB-5 visa cap for fiscal year 2024, further highlighting the program's popularity among Chinese investors. Adding to the scrutiny surrounding Casey, it was reported that he holds a minor stake in Yichang Humanwell, a Chinese fentanyl manufacturer, through an index fund. This revelation has sparked criticism from his Republican opponent, Dave McCormick, who accused Casey of hypocrisy for criticizing McCormick's former company’s ties to the same manufacturer while having his own financial connection. The controversy underscores the complex interplay of campaign financing, immigration policy, and international business interests as the 2024 Senate race heats up.