John Thomas Financial CEO Thomas Belesis chimes in on Fox Business Scoreboard regarding a bill that will grant visas to people who buy houses that worth over $500.000. Watch the video below:
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The comprehensive bill that aims to spur foreign travel and spending in the U.S., Senators Charles E. Schumer (D-NY) and Mike Lee (R-UT), have proposed providing a three-year residential visa to foreign nationals who invest at least $500,000 in residential real estate in the U.S. At least $250,000 must be spent on a primary residence where the visa holder will live for at least 180 days out of the year while paying taxes to the U.S.