White House signs Israeli investor visa bill

President Obama on Monday signed into law legislation making Israelis eligible for two-year investor visas.

The legislation from Rep. Howard Berman (D-Calif.) cleared the House and Senate without objection. Israel is already one of the largest sources of foreign direct investment to the United States, but the E-2 visas for investors to come investigate business opportunities should help both the United States and Israel.

Berman is locked in a tight primary race with Rep. Brad Sherman (D-Calif.), and both lawmakers have sought to court Jewish voters and the California business community, two constituencies that support the visa bill.

“Israeli investors have a natural home in the San Fernando Valley and Southern California to expand their businesses, hire American workers, and strengthen the economy,” Berman said in a statement.