President Donald Trump announced a new “gold card” program on Tuesday, allowing wealthy foreigners to purchase “green card” permanent resident status, along with a path to U.S. citizenship, for a payment of approximately $5 million to the federal government.
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“We’re going to be selling a gold card. You have the green cards, this is a gold card. We’re going to be putting a price on that card of about $5 million, and that could give you green card privileges, plus, it’s going to be a route to citizenship,” said President Trump.
“Wealthy people would 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,” he added.
Trump stated that the program would be rolling out over the next two weeks and, in response to a reporter’s question, suggested that the government could issue “millions” of the cards.
Secretary of Commerce Howard Lutnick stood beside Trump during the announcement and provided further details on the program, clarifying that anyone applying for the program will be vetted. Secretary Lutnick suggested that the funds brought in by the cards could be used to pay down the mounting national debt.
Trump elaborated, saying that if the U.S. sold 10 million cards, it would amount to $50 trillion, more than enough to pay off the $36 trillion national debt.
The new gold cards are set to replace the current EB-5 program, which allows investors who put enough money into a U.S. commercial enterprise and plan to create or preserve at least 10 full-time jobs to receive lawful permanent residence.
“The EB-5 program was really, you lend some money, but it was all, it was full of nonsense, make-believe, and fraud,” said Lutnick.
Though the program has the potential to pay off the national debt if enough people sign up and to be a boon to the national economy and job market, it has also drawn criticism from various quarters.
Some have latched onto the president saying, in response to a reporter’s question, that Russian oligarchs could theoretically be eligible for the program.
“Yeah, possibly, hey. I know some Russian oligarchs that are very nice people, it’s possible,” said Trump.
Others on social media have criticized the plan for “selling citizenship,” and thereby devaluing the citizenship of other Americans by allowing people not loyal to the nation to become citizens.
Although the program does not actually grant citizenship, it does put participants on a path toward possible future citizenship.
Dems will fight this because they only like money from American family’s. Wouldn’t be surprised to see a liberal counter offer to PAY 5 million to people who come, oh wait they’ve been doing that for the last 4 years.
Not new. Since the nineties we have been selling entrance for 1,000,000 dollar investment in the US.
Imagine ? Now George Soros can buy his US citizenship. Great idea……
Best idea ever! Let the so called newcomers or new Americans pay! That’s what Maine does to any tourist coming to our commie state!! Let them pay! C’mon man!
Excelent idea! Let them pay for the privilege!
Democrats gave it away for free, because to Democrats citizenship is worthless!
Horrible, horrible idea. Selling our birthright. For brevity, this is just one of many reasons why it is bad: Most of these people have no idea what the first and second amendments are about.
OH you Blind Trumpanzees ! Selling Citizenship to anyone with 5 Million ? No test of loyalty , No desire to assimilate , No requirement to SPEAK ENGLISH ! , Yes this is a horrible Idea , an insult to our forefathers . American A land mass between Canada and Mexico thats # 1 product is Solders to fight the Worlds Wars .