President Donald Trump has made a strong and unprecedented move by proposing a new immigration law that could bring in trillions of dollars and transform America’s strategy to attract international skills. Dubbed the” Gold Card” immigration, the strategy aims to offer a route to US citizen for a hefty price —$ 5 million per person.
The pitch: Billion to pay off debts
During his first full case gathering of his second term, Trump and his Secretary of Commerce, Howard Lutnick, introduced the plan as a way to lower the world’s loan. Lutnick claimed that selling 200, 000 of these high-priced visa was produce$ 1 trillion in profits.
” If we sell a million, that’s$ 5 trillion”, Trump added, emphasizing the agency’s ability to reduce financial obligations. ” I happen to think it’ll sell like mad. It’s a business”.
A change in immigration coverage
The Gold Card would provide an even more exclusive path than the current EB-5 investor visa program, which requires foreigners to invest at least$ 1 million in a US company that creates jobs. According to Trump, the initiative would help retain top international talent, particularly students graduating from Ivy League and elite universities.
” I receive calls from businesses looking to employ the No. 1 student at Harvard, Wharton, or Yale, but finally they’re forced to leave because of our antiquated immigration system”, Trump said. ” With Gold Cards, these brilliant minds stay here”.
No legislative acceptance needed?
Trump’s claim that the program doesn’t need congressional approval is one of its most impressive features. While US legislation offers Congress authority over immigration and citizen, Trump insisted the program was move forward separately.
The plan mirrors related “golden card” applications in countries like the UK, Spain, Canada, and Australia, which offer citizenship or citizenship to wealthy buyers. But, Trump suggested that America’s international appeal would render this plan unprecedented in success.
” No another state can do this because people don’t want to go to other countries”, Trump declared. Since November 5, they want to visit.
The discussion: A gate for the wealthy?
The program, according to reviewers, successfully sells American citizenship, creating a two-tier immigration technique where the rich can go free of conventional visa requirements.
Lutnick defended the idea, claiming that higher value items may lessen the EB-5 program’s risk of fraud and inconsistencies. He added that the program does not discriminate based on ethnicity but may select candidates based on protection concerns.
The unanswered issues
While Trump has touted the agency’s economic benefits, crucial details remain vague. Had holders of Gold Cards be required to work? Would there be a cap on the number of permits that can be issued? And how would applying to countries like China and Iran be subject to safety screening?
Despite these difficulties, Trump remained assured:” It’s significantly like a natural card, but at a higher level of intelligence. People of money and talent will eventually come to independence through this route.
The earth will be watching to see if Trump’s Gold Card really becomes a golden ticket to the American Dream, or just another political bargain as the leadership moves forward with this contentious program.
