President Donald Trump announced plans for the government to offer a new "gold card."
It's not a credit card, rather a new visa program for high-worth foreign investors who want to move to the U.S. It's designed to be a replacement for the current EB-5 visa.
Trump said the plan will help entice wealthy investors from around the globe to take advantage of a system that will help the U.S. grow with new investments from high-worth immigrants,
reported The Hill.
Commerce Secretary Howard Lutnick appeared with the president to announce the new visa program.
"They'll have to go through vetting, of course, to make sure they're wonderful, world-class, global citizens. They can come to America, president can give them a green card, and they can invest in America, and we can use that money to reduce our deficit," he said.
The president said the card isn't free, but that it will bring returns for both the U.S. and for card purchasers.
"We're going to be putting a price on that card of about $5 million, and that's going to give you green card privileges, plus it's going to be a route to citizenship," Trump said.
The idea, said Trump, is to draw the most successful new U.S. citizens from around the globe.
"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 and employing a lot of people," Trump said. "And we think it's going to be extremely successful."
Jim Mishler ✉
Jim Mishler, a seasoned reporter, anchor and news director, has decades of experience covering crime, politics and environmental issues.
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