"Trump proposed charging rich immigrants $5 million for a 'gold card' that offers green card privileges and a route to citizenship, potentially generating $50 trillion if 10 million cards are sold."
"Despite promising a year ago that gold cards would raise $1 trillion in revenue, Commerce Secretary Howard Lutnick reported that only one card has been approved, with many still in the queue."
The U.S. Treasury's debt is nearly $39 trillion, with interest payments exceeding $1 trillion annually. President Trump proposed various revenue methods, including tariffs and 'gold card' visas for wealthy immigrants. The plan involves charging $5 million for a card that offers immigration privileges and a path to citizenship. Trump suggested selling 10 million cards could generate $50 trillion, potentially aiding deficit reduction. However, only one card has been approved so far, raising concerns about the scheme's feasibility and effectiveness in generating promised revenue.
Read at Fortune
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