President Trump Confesses Concerns Over Key Aspect of New Plan

President Trump’s proposed $5 million “Gold Card” visa program promises economic benefits while raising concerns about vetting procedures for wealthy immigrants seeking US citizenship.

Key Insights

Trump’s “Gold Card” visa would replace the EB-5 program, offering green card privileges and a path to citizenship for $5 million per applicant.
President stated he is “worried” unsavory individuals may use it.
The program aims to generate $5 trillion by selling 1 million cards, potentially helping pay down the national debt.
Trump promises strict vetting with refunds and deportation for “unsavory” individuals who slip through the screening process.
The proposal requires Congressional approval and faces criticism for favoring wealthy immigrants over skill-based immigration.

A New Approach to Immigration Investment

President Donald Trump has unveiled plans for a $5 million “Gold Card” visa program to replace the existing EB-5 immigrant investor visa system. During a recent appearance on Fox News Channel’s “Ingraham Angle,” Trump detailed his vision for this program, which would offer green card privileges and a path to US citizenship for wealthy foreign investors. The ambitious plan aims to sell approximately one million of these cards, potentially generating $5 trillion in revenue that could be directed toward reducing the national debt.

Commerce Secretary Howard Lutnick has criticized the current EB-5 program, describing it as “full of nonsense, make-believe and fraud.” The existing program, established in 1990 to stimulate the US economy through foreign investment, requires investments of $800,000 to $1 million and the creation of at least 10 jobs. Trump’s proposal represents a substantial price increase while potentially streamlining the process for wealthy applicants.

Security Concerns and Vetting Procedures

Addressing concerns about potential security risks, Trump emphasized that Gold Card applicants would undergo thorough vetting procedures. When questioned about the possibility of “unsavory” individuals entering the country through this program, Trump admitted he was “worried” about the possibility, but offered a straightforward solution that aligns with his “America First” approach. The plan includes provisions for refunding the application fee and deporting individuals who are later discovered to be problematic.

Trump described the Gold Card as a “green card plus,” suggesting it would offer enhanced benefits compared to standard permanent residency status. This premium approach aligns with Trump’s business background and his focus on bringing wealthy individuals who can make substantial economic contributions to the United States. The administration believes these high-net-worth immigrants would generate economic activity through spending and tax payments.

Branding and Marketing Strategy

In characteristic Trump fashion, the president has also floated an alternative name for the program that would leverage his personal brand. Trump suggested renaming the “Gold Card” to the “Trump Card,” arguing that the association with his name would enhance the program’s appeal and marketability to potential applicants worldwide. This branding strategy reflects Trump’s background in real estate development and marketing.

While Trump’s commerce secretary has claimed there are already 250,000 potential applicants interested in the program, applications are not yet available on the USCIS website. The proposal still requires Congressional approval before implementation, as the existing EB-5 program was established by Congress and any replacement would need legislative action. Legal challenges could arise if the administration attempts to eliminate the current program without proper legislative procedures.

Criticism and Alternative Approaches

Critics of the Gold Card proposal argue that the $5 million price tag is uncompetitive compared to similar programs in other countries. Some immigration experts, like Ashok Kumar Adusumilli, suggest the high cost could limit the program’s appeal and effectiveness. Others, including Democratic Congressman Ro Khanna, advocate for a more merit-based immigration approach that focuses on skills rather than wealth, with reforms to programs like the H-1B visa that currently allows US companies to hire 85,000 foreign workers annually in specialized fields.

The Gold Card program represents a significant shift in immigration policy that prioritizes economic contribution through direct investment. While supporters view it as a pragmatic approach to generating revenue and attracting affluent immigrants who can boost the economy, detractors question whether focusing on wealthy applicants addresses broader immigration needs. As the proposal moves forward, the implementation details, particularly regarding vetting procedures and economic impact assessments, will be crucial in determining its ultimate success.