U.S. Rep. Adam Kinzinger (R-IL) on June 24 sponsored bipartisan legislation that would require the U.S. Secretary of State to establish an investor visa denials database, which would flag denials of investor visas on the grounds of corruption or human rights abuses.
“By sharing intelligence on the visa denials of these kleptocrats,” the congressman said, “we will not only ensure that these visas are reserved for honest investors but will also prevent criminals from freely spending their money in the United States.”
Rep. Kinzinger introduced the Golden Visa Accountability Act, H.R. 4142, with nine cosponsors and colleagues from the Caucus Against Foreign Corruption and Kleptocracy, including U.S. Reps. Brian Fitzpatrick (R-PA) and Peter Meijer (R-MI), as well as lead bill cosponsor U.S. Rep. Tom Malinowski (D-NJ). The bill is named for investor visas colloquially known as “golden visas,” which oftentimes are used by corrupt officials to launder money to support expensive lifestyles in the U.S., according to a bill summary provided by Rep. Kinzinger’s office.
“The national security of the United States rests on our ability to deny access to our shores to those who would do us harm. Working with our partners, we need to ensure that we close loopholes that allow foreign corrupt officials to abuse our visa process to live lavish lifestyles in the West,” said Rep. Kinzinger. “I want to thank Congressman Malinowski for joining me in this effort and for his dedication to countering Russian and Chinese corruption.”
“American citizenship should not be for sale,” added Rep. Malinowski, who noted that the federal “EB-5 cash-for-citizenship program is set to expire on June 30 and we should let it die. The program is too great a risk in this age of kleptocracy, where authoritarian cronies and oligarchs use their wealth to infiltrate and corrode democracy.”
H.R. 4142 is the third in a series of bills introduced as part of Counter-Kleptocracy Month, an initiative of the Caucus Against Foreign Corruption and Kleptocracy. The caucus members on June 8 introduced the Justice for Victims of Kleptocracy Act of 2021, H.R. 3781, and on June 15 offered the Foreign Corruption Accountability Act, H.R. 3887.