POLITICS NEWS – Trump introduces new Trump gold card allowing rich foreigners into US

Laila Kirkpatrick, Staff Writer

President Trump has announced that he is planning to introduce a new visa attracting rich foreigners to America. This new visa is  called a “gold card.” For $5 million people will be able to apply to become lawful permanent residents. Trump said that the program would be rolled out in the next two weeks. Trump claims that the new initiative would bring in “very high-level people.” He went on to say that all the proceeds for the program could help pay down the deficit. Trump claimed that this would be, “a route to citizenship, and wealthy people will be coming into our country by buying this card. They’ll be wealthy, and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes.” 

This new initiative was announced to reporters Tuesday during an unrelated event being held in the Oval Office. Trump’s Commerce Secretary Howard Lutnick called it the “Trump Gold card” and said it would replace the current EB-5 immigrant investor visa. That program allows foreigners who have invested at least $1.05 million in a new business that creates jobs or $800,000 in a business in a rural area, high unemployment area, or an infrastructure project.