Trump sells $5 million immigrant "gold cards," with funds possibly used to reduce deficit

Trump announced that he will launch a program to offer residency and a path to citizenship to foreign investors who invest $5 million. While cracking down on illegal immigration, this provides a new pathway for legal immigrants. Trump said that the program, called "Golden Card," will be launched within two weeks, and he added that he believes congressional approval is not needed. The full scope and implementation of the program are currently unclear. During the signing of the executive order on Tuesday with Commerce Secretary Howard Lutnick, Trump said, "We will price this card at around $5 million, and it will have the benefits of a green card." Lutnick suggested that this move might replace the existing EB-5 visa program, which he criticized as "utter nonsense." The EB-5 program requires investors to invest at least $900,000 in qualifying American projects and prove that at least 10 jobs have been created to obtain a green card, which can also extend to investors' spouses and children under 21. When asked if participants need to invest a certain amount of money to be eligible for the Golden Card, Lutnick said, "Yes, that is correct," but he hinted that the funds for the visa may go directly to the government. He said, "The President said rather than have this ridiculous EB-5 program, we're going to end the EB-5 program. We're going to replace it with the Trump Golden Card. They'll be able to pay $5 million, period, to the U.S. government no questions asked, and of course, that insures that they are outstanding world-class citizens. They can come to America. The President can give them a green card, they can invest in America, and we can use that money to reduce our deficit." Trump mentioned that he wants to keep the pathway open for legal immigrants to come to the U.S., despite implementing what he touted as the largest-ever crackdown on undocumented immigrants during his campaign. Trump has taken steps to increase deportation of illegal immigrants during his second term and ensure security on the southern border, including threats to Canada and Mexico to impose tariffs if they don't take more measures to prevent the influx of fentanyl, other illegal drugs, and people into the U.S.