- President Trump announced a new pathway to U.S. citizenship via a "gold card" costing $5 million, aimed at high-level investors who can contribute significantly to the economy.
- This initiative replaces the EB-5 Immigrant Investor Program, which requires a minimum investment of $500,000-$900,000 and the creation of 10 jobs and was criticized for fraud and misuse.
- The new program is designed to be more transparent with rigorous vetting processes and its proceeds are intended to help reduce the U.S. deficit, according to Commerce Secretary Howard Lutnick.
- Critics argue the gold card program creates a pay-to-play system favoring the wealthy and could face legal and ethical scrutiny, similar to past controversies like the Kushner family's involvement in EB-5 investments.
- The announcement aligns with the Trump administration's broader hardline stance on immigration, which has led to legal battles and public criticism, including recent challenges to policies on birthright citizenship and legal immigration pathways.
President Donald Trump announced on Tuesday, a new pathway to United States citizenship through a "gold card" that would cost $5 million, effectively replacing the existing EB-5 Immigrant Investor Program.
The announcement, made during a briefing in the Oval Office, marks a significant shift in the nation's immigration policies, particularly for wealthy investors. The move comes as the Trump administration continues to tighten immigration rules and explore new revenue streams.
The new program, described by Trump as "somewhat like a Green Card, but at a higher level of sophistication," aims to attract what the president called "high-level people" who will "spend a lot of money, pay a lot of taxes and employ a lot of people."
EB-5 program replacement
The current EB-5 Immigrant Investor Program allows foreign investors to apply for permanent resident status if they invest at least $500,000 (or $900,000 in targeted employment areas) in a commercial enterprise in the United States and create or preserve at least 10 full-time jobs for U.S. workers. However, the program has faced criticism for alleged instances of fraud and misuse.
Commerce Secretary Howard Lutnick, speaking alongside the president, described the EB-5 program as "full of nonsense, make-believe and fraud." He added that the new gold card program would be more effective and transparent, with potential buyers undergoing rigorous vetting processes.
The administration argues that the gold card program will bring significant economic benefits to the United States. According to Lutnick, the money from the sale of these cards will be used to reduce the U.S. deficit.
"Once vetted, gold card holders can invest in America and we can use that money to reduce our deficit," he said. However, the new program is likely to face scrutiny and opposition. Critics argue that it essentially creates a pay-to-play system for citizenship, favoring the wealthy while making it more difficult for less affluent individuals to immigrate.
The announcement also comes at a time when the Trump administration has been heavily criticized for its hardline stance on immigration, including attempts to end birthright citizenship and restrict legal immigration pathways. (Related: Trump signs executive order halting taxpayer funds for illegal immigrants, prioritizing American citizens.)
Historical context and controversies
The controversy surrounding the EB-5 program is not new. In 2017, the Kushner family, including Jared Kushner, then a senior White House adviser, faced criticism for promoting EB-5 investments in their real estate projects to wealthy Chinese investors. This was seen by some as a conflict of interest and even "corruption, pure and simple," according to a former White House ethics lawyer under George W. Bush.
Meanwhile, the new gold card program raises similar ethical concerns, particularly given the administration's overall approach to immigration. The Trump administration has been embroiled in legal battles over its "strict" immigration policies, including a recent ruling by an appeals court that rejected the administration's request to pause a lower court's order blocking an executive order to end birthright citizenship.
The introduction of the $5 million gold card by the Trump administration represents a bold step in U.S. immigration policy. While the administration claims it will bring economic benefits and reduce the deficit, critics argue that it undermines the principles of fairness and equity in the immigration system. As the program moves forward, it is likely to face intense scrutiny and legal challenges, reflecting the broader debates about immigration and economic policy in the United States.
Visit Migrants.news to get updates on Trump administration's immigration and economic policies.
Watch the video below where Department of Homeland Security Secretary Kristi Noem lauds Trump's immigration policies.
This video is from the NewsClips channel on Brighteon.com.
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