Trump Proposes $5 Million Gold Cards for Foreign Residency
In a bold and innovative move, former President Donald Trump announced plans for a new program aimed at attracting wealthy foreign individuals to the United States. During a press briefing at the White House, Trump revealed that the government will soon introduce a “Gold Card” program, which will allow foreigners to obtain residency status—and a pathway to citizenship—for a fee of $5 million. He anticipates that up to one million of these cards could be sold, potentially generating significant revenue to help reduce the national debt.
“This is not just any card; it’s a sophisticated approach to residency,” Trump explained. “It streamlines the process for individuals who are not only financially stable but also bring invaluable skills and talents to our nation.” By creating a system that incentivizes wealthy immigrants, Trump argues that the initiative could greatly benefit the American economy.
The former president emphasized that individuals who secure these Gold Cards will contribute positively to the U.S. economy. “These successful people will not only be paying taxes but also creating jobs and investing in American businesses,” he stated, showcasing the dual benefit of the program for both immigrants and the country.
Commerce Secretary Howard Lutnick, who joined Trump during the announcement, elaborated that this program would replace the existing EB-5 visa initiative, which has faced its own set of challenges over the years. “We sought to develop a more effective solution than the EB-5 program, which has often fallen short,” said Lutnick. “The Trump Gold Card will ensure thorough vetting of applicants, guaranteeing that those who seek residency are indeed top-tier global citizens.”
Critics of past immigration programs have often pointed to loopholes and exploitation. However, Trump and Lutnick assured that this new initiative would include rigorous background checks to maintain the integrity of the program. “We want the best and the brightest,” Lutnick insisted, underscoring the importance of selecting individuals who can contribute to society.
Trump envisions a diverse array of applicants, including successful entrepreneurs and business leaders from around the globe. “We’re looking at everyone from Indian tech innovators to Russian business moguls and beyond,” he stated, maintaining an open perspective on who may apply for the Gold Card. “Large companies, like Apple, may even look to sponsor employees through this program, making it a win-win for American businesses and foreign talent.”
Moreover, Trump clarified that while the Gold Card holders will enjoy significant tax advantages, those creating jobs in America will be obligated to pay the same tax rates as U.S. citizens. “This is about bringing wealth and skills while ensuring they contribute to the community they join,” he said, effectively addressing concerns about tax evasion.
The economic implications of this program could be immense. Trump predicted that if the government sold just a million Gold Cards, it could lead to a staggering $5 trillion influx of funds. “Imagine if we sold ten million— that’s a potential $50 trillion,” he noted. Given the current national debt of $35 trillion, this revenue could provide a much-needed remedy for a problem that has been festering for years.
When asked about the eligibility of individuals with less-than-stellar reputations, such as certain foreign oligarchs, Trump responded cautiously. “Yes, it’s possible. I know some wealthy Russian individuals who are quite respectable,” he stated. His comments highlighted the need for careful consideration of who gets access to this new program.
As the details unfold, many in the political landscape are watching closely. If implemented successfully, the Gold Card initiative could set a precedent for how the U.S. approaches immigration in the future. Advocates for this program argue that it balances the need for economic growth with the responsibility to vet newcomers, ultimately positioning America as a desirable destination for global talent.
In summary, Trump’s proposed Gold Card initiative offers a fresh perspective on immigration, focusing on attracting wealth and skills that can contribute to the nation’s prosperity. As the program nears its anticipated launch in the coming weeks, discussions around its potential benefits and challenges will likely dominate political conversations moving forward.
