President Obama has long pushed for a "startup" visa to attract entrepreneurial immigrants to the U.S. but has been mostly sidelined by a partisan Congress in the effort. As a way around the block, the White House is proposing what's been called the International Entrepreneur Rule, which would allow the government to let foreign entrepreneurs who have raised American investment to come into the country for between two and five years, with the option to remain longer once they are living here, reports Wired:
This new rule takes advantage of the existing Immigration and Nationality Act, which permits the government to grant people temporary entry into the country on a case-by-case basis for "urgent humanitarian reasons" or "significant public benefit." The White House is now arguing that entrepreneurs who create jobs in the United States and contribute to gross domestic product are providing a significant public benefit.
President Obama plans to enact the rule before he leaves office. MG