Finally, someone seems to be noticing that there are no truly viable routes to permanent residence for small business entrepreneurs and that the American economy is suffering as a result.

Hoping to fix this major void in immigration policy, the National Foundation for American Policy has recommended to Congress the establishment of a new type of immigrant visa (EB-6) aimed at foreign-born entrepreneurs. The proposal recommends a 10,000 annual visa quota that could create up to 100,000 new jobs over three years.

The largest distinction between this potential new visa category and the current EB-5 investor visa is that the EB-5 requires an initial investment of at least $500,000. This capital requirement disqualifies most small businesses and start-ups, which typically start with a significantly lower dollar investment in the start-up phase. To encourage broader investment and more U.S. job creation, the minimum financial requirement is eliminated under the EB-6 visa proposal.

A full copy of the proposal is available here. To contact your Congressional representatives in support of this proposal, click here.