Janice R. Andrews
According to Commerce Secretary Howard Lutnick, approximately 250,000 people have expressed interest in President Donald Trump’s proposed “Gold Card” visa program. However, this claim has raised questions since the program hasn’t officially launched and no application portal exists yet.
Program Details
The “Gold Card” visa would offer U.S. residency to foreign nationals who invest $5 million in American businesses. This initiative appears designed to replace the current EB-5 visa program, which requires investments of $800,000-$1 million along with creating at least ten American jobs.
Concerns and Criticism
Critics, including Congressman Ro Khanna, argue the program prioritizes wealth over merit. Khanna noted that many successful American business leaders like Sergey Brin and Sundar Pichai didn’t start with millions in capital yet made significant contributions to American innovation.
Political scientist Marco A. Durazo questioned whether U.S. citizenship should be available primarily to the highest bidders, suggesting the approach may contradict Trump’s previously strict immigration stance.
Status and Future
Neither the White House nor USCIS has officially confirmed implementation details or timeline. The program may require congressional approval, and eligibility criteria remain undefined.
President Trump has expressed optimism about the program’s potential economic impact, claiming that selling a million such visas could generate $5 trillion toward paying off national debt.
