People started talking about the president’s new $5 million ‘Gold Card’ visa when he first suggested that it was going to become a reality. Now that some are starting to be sold, it is proving to be a winner.
The announcement for the Gold Card visa was announced by Donald Trump last month. It is an expanded type of green card that allows millionaire migrants to work in the United States and to get citizenship at a faster rate than the typical green card.
Considering the fact that it is coming in at a $5 million price point, it has gained a lot of attention. It was something that was set to replace the EB-5 visa, which cost $20,000 and requires that you invest in a US business.
Many people consider the proposal for such a new standard visa to be controversial. Essentially, it would allow some who could afford it to buy their citizenship in the United States. At the same time, the Trump administration is cracking down on illegal immigrants.
Trump defended the program, however, saying that it would raise some $5 trillion in revenue and would help to bring the federal deficit under control. It would also attract rich investors to the United States.
Although it is not revealed how many are being sold on a daily basis and exactly how much has been raised, there was a nod to the fact that Commerce Secretary Howard Lutnick sold 1000 gold cards in a day and raised $5 billion so far.
He said: “There are 37 million people in the world who are capable of buying the card… The president thinks we can sell a million.”
Lutnick said that it was John Paulson who inspired the idea for the gold card after Trump met with the investor. He then asked his friend, Elon Musk to launch it within two weeks.
The secretary also admitted that he would’ve bought six gold cards for him and his family if he were born outside of America.
“Because God forbid something happens, I want to be able to go to America.”
Lutnick gave some indication as to how they would work because they could be revoked from migrants if they were guilty of criminal activity or other violations. At the same time, someone who holds the card can live in the United States indefinitely without restrictions.
Trump continues to praise the program and said that it could be great or it might be fantastic. He added: “We don’t need Congress … It’s a path to citizenship, a very strong path to citizenship, but we’re not doing citizenship. For that I’d have to get Congress.”
They are hoping to knock down the national debt, which is currently sitting at over $36 trillion.
