President Trump announced a controversial new initiative to sell a 'gold card' for $5 million, akin to a green card, granting its holder green card privileges and a potential route to citizenship. The initiative, presented as a means to attract wealthy immigrants who will contribute to the economy, is intended to replace the EB-5 immigrant investor program. Commerce Secretary Howard Lutnick indicated that the program could start soon, aiming to bring in significant revenue while reducing the budget deficit through wealthy newcomers spending and paying taxes in the U.S.
We're going to be selling a gold card. You have a green card. This is a gold card. 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.
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.
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