Trump wants to sell $5 million ‘gold card’ – Washington Examiner
In a recent proclamation, President Donald Trump proposed the introduction of a $5 million “gold card” program aimed at wealthy foreigners seeking U.S.residency. This proposal was made during an Oval Office signing ceremony, where he also initiated an examination into copper imports.The president stated that the gold card would grant green card privileges, possibly launching within two weeks, and would replace the existing EB-5 Immigrant Investor Program. Trump emphasized that this initiative would attract successful individuals who create jobs and contribute too the economy through taxes. However, concerns were raised about the legality of the changes, as the EB-5 program was established by Congress in 1990. Commerce Secretary Howard Lutnick defended the proposal, ensuring that all applicants would undergo vetting to confirm their status as respectable global citizens.
Trump proposes selling $5 million ‘gold card’ as ‘road to citizenship’ for wealthy foreigners
President Donald Trump proposed major changes to the American visa program Tuesday evening, suggesting he will soon begin selling $5 million “gold cards” to wealthy foreigners in exchange for U.S. residency.
The president’s comments came during an Oval Office signing ceremony, where he also directed the Commerce Department to open a Section 232 investigation into copper imports.
“We’re going to be selling a gold card,” the president told reporters, adding that the proposed program could launch in as soon as two weeks. “We’re going to be putting a price on that card of about $5 million, and that’s going to give you green card privileges.”
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“The gold card will bring in with it people who create jobs,” he continued. “It’s a road to citizenship for people.”
The president claimed the program would bring “wealthy people” into the country.
“They’ll be wealthy and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people, and we think it’s going to be extremely successful,” Trump stated.
Commerce Secretary Howard Lutnick, who had joined Trump for the ceremony, said the program would replace the EB-5 Immigrant Investor Program, which he claimed was “full-on nonsense.” The Immigrant Investor Program requires foreigners to pay $1 million for a visa and launch a business that creates at least 10 new jobs.
It’s not clear whether the administration can legally change, or end the program as it was created by Congress in 1990.
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Lutnick also attempted to get ahead of potential blowback surrounding the announcement, specifically how Trump’s proposal could essentially sell permanent U.S. residency to unsavory individuals with the proper financial means to use the program.
“They’ll have to go through vetting, of course. We’ll make sure they’re wonderful world-class global citizens,” he told reporters. “They can invest in America, and we can use that money to reduce our deficit.”
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