According to Commerce Secretary Howard Lutnick, there are 250, 000 people waiting to get President Donald Trump’s “gold card,” a card that can be purchased for$ 5 million and gives them work privileges.
” There are 250, 000 people waiting in line nowadays”, Lutnick said in a Fox News meeting. ” If they’re willing to pay the$ 5 million, that’s …$ 1.25 trillion just for that line”.
On Tuesday, Trump announced his plans to create a “gold cards” that may change the EB-5 american card program. The EB-5 card requires candidates to make at least 10 jobs and engage around$ 1 million, but Lutnick has criticized it as being “poorly managed” and posing a risk of fraud.
” So the EB-5 system, which has been around for many years, has invested millions of dollars into jobs in America, and those jobs were generally suspect”, Lutnick said during the Cabinet conference on Wednesday. ” They didn’t really work out. There wasn’t any supervision of it”.
Lutnick shared that those who gain access to the , “gold cards” may be vetted.
” These are going to be excellent international citizens who are going to take entrepreneurial spirit, power, and development to America”, Lutnick said. ” If one of them comes in, think of the work they’re going to take with them, the firms they’re going to take with them, and they’re going to give American fees as well, so this is great wealth for America”.
WHAT TO KNOW ABOUT TRUMP’S GOLD CARD PROGRAM
Trump claimed that by implementing the “gold card,” he is aiming to get the best talent at a job location.
” I get calls from, as an example, companies where they want to hire the No. 1 student at a school”, the president said. ” Person comes from India, China, Japan, lots of different places, and they go to Harvard, the Wharton School of Finance, they go to Yale, and they make job offers, but the offer is immediately rescinded because you have no idea whether or not that person can stay in the country. I want to allow that person to remain in the nation. These companies can go and buy a gold card, and they can use it as a matter of recruitment”.
