Washington, D.C.: Former U.S. President Donald Trump has introduced a new immigration initiative called the ‘Gold Card,’ which would provide a high-priced, expedited route to U.S. citizenship. Announced on Tuesday from the Oval Office, the plan sets the cost of the Gold Card at $5 million, branding it as an elite alternative to the existing Green Card system.
During the announcement, Trump highlighted that the program aims to attract wealthy immigrants who will contribute significantly to the U.S. economy.
Key Highlights of Trump’s Gold Card Initiative:
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Premium Green Card Alternative: The Gold Card will function as a “premium version” of the traditional Green Card, offering additional privileges and a faster track to citizenship.
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Price Tag of $5 Million: Applicants must pay $5 million for the card, with funds expected to go directly to the U.S. government.
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Economic Contribution Focus: Trump emphasized that the initiative would attract financially successful individuals who would invest, create jobs, and pay substantial taxes in the U.S.
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No Congressional Approval Expected: The former president asserted that he does not anticipate requiring congressional approval to implement the policy.
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Planned Launch in Two Weeks: The administration intends to roll out the program within the next 14 days, though details on execution remain unclear.
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Potential Replacement for EB-5 Visa: Commerce Secretary Howard Lutnick suggested that the Gold Card might replace the EB-5 program, which currently grants Green Cards to foreign investors supporting U.S. businesses.
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Strict Vetting Process Promised: While Trump assured that only “world-class, global citizens” would qualify, specifics on the vetting procedure have yet to be disclosed.
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Revenue Allocation for National Deficit Reduction: Lutnick indicated that proceeds from the Gold Card sales could be used to help lower the U.S. deficit.
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Political and Legal Uncertainty: Given the lack of legislative approval, it remains uncertain whether the initiative will face legal challenges.
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Market Reaction: The announcement sparked mixed reactions, with financial analysts discussing its potential economic impact, while critics questioned its fairness and feasibility.
As the initiative moves toward implementation, immigration experts and policymakers continue to debate its implications for the U.S. economy and existing immigration laws.
