President Donald Trump announced his intention to introduce a gold card visa program aimed at wealthy investors, charging $5 million and replacing the outdated EB-5 visa system. Commerce Secretary Howard Lutnick elaborated that this new card, functioning as a permanent residency green card, would elevate investment thresholds and address fraud associated with the EB-5. The proposal could lead to significant economic contributions through job creation and taxes while suggesting a potential for the sale of up to 10 million golden visas to decrease the federal deficit.
Trump asserted the gold card visa program would attract wealthy investors to the U.S. economy, emphasizing their potential contributions in jobs and taxes.
Commerce Secretary Lutnick stated this new visa will eradicate the fraudulent aspects tied to the EB-5 program, thereby enhancing legitimacy in foreign investments.
The proposed gold card closely resembles a green card but is tailored for wealthier individuals, aiming to increase both investment and citizenship pathways.
With a potential for 10 million gold cards, Trump hinted at a strategy for lowering the federal deficit while enhancing economic contributions from affluent residents.
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