Mr. President. I am pleased to join Senator GRAMM in offering this amendment. which would enhance the immigration bill before us by attracting significant investments to rural America. As my colleagues know. the Immigration Act of 1989 creates a category of 120.000 independent visas. which would be available for people with particular skills or qualities that the United States needs. Up to 4 percent. or 4.800. of these independent visas could be used by aliens who invest at least $1 million in a commercial enterprise in the United States that creates at least 10 new jobs. Any visas issued under this category would be conditional and would have to be reviewed after 2 years. The amendment we are offering adds an additional 2.000 visas exclusively for those who invest in rural or high unemployment areas. Under the amendment. all investors would still have to create 10 new jobs. and the investors would still be subject to a 2year review. The amendment does not increase the total level of immigration set out in the bill. The new rural investor visas will be taken from the "special immigrant" category. Demand for visas in this category is far below the level set in this bill. Therefore. I think that we can afford to deduct a certain number of visas from it. Mr. President.
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