President Trump announced a new gold card visa aimed at wealthy investors, which would replace the EB-5 visa program. This $5 million visa is pitched to bolster the economy by attracting individuals who can contribute significantly in taxes and job creation. Commerce Secretary Howard Lutnick emphasized that the new visa would decrease fraud associated with the EB-5 program while facilitating permanent residency and a path to citizenship. Trump speculated about the possibility of selling up to 10 million gold cards to help reduce the federal deficit, making this plan a strategic economic initiative.
"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..."
"The gold card actually a green card, or permanent legal residency would raise the price of admission for investors and do away with fraud and nonsense..."
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