What's happened
The Trump administration is testing a new $5 million 'gold card' immigration program, which aims to replace the EB-5 visa. This initiative allows wealthy individuals to gain U.S. residency without job creation requirements. Critics raise concerns about legality and transparency as the program develops.
What's behind the headline?
Overview
The gold card immigration proposal represents a significant shift in U.S. immigration policy, prioritizing wealth over traditional criteria.
Key Points
- Financial Barrier: The $5 million entry fee raises questions about equity in immigration, potentially favoring the ultra-wealthy.
- Legality Concerns: Experts, including David Bier from the Cato Institute, argue that Trump cannot legally sell more green cards than Congress allows, raising doubts about the program's viability.
- Political Implications: The program may appeal to Trump's base by promoting economic growth through foreign investment, but it also risks alienating voters concerned about immigration fairness.
- Transparency Issues: Critics worry about the vetting process and potential favoritism, especially regarding Trump's comments on Russian oligarchs.
Future Outlook
As the program moves forward, it will likely face legal challenges and public scrutiny, particularly regarding its implementation and the ethical implications of prioritizing wealth in immigration policy.
What the papers say
According to Business Insider UK, Commerce Secretary Howard Lutnick stated, "The current EB-5 system is full of nonsense, make-believe, and fraud," suggesting that the gold card program aims to attract only "world-class global citizens." In contrast, The Independent highlights concerns from experts like David Bier, who warns that Trump cannot lawfully sell green cards beyond Congress's caps, indicating potential legal hurdles for the initiative. Bloomberg reported that Musk confirmed the program's rollout would follow successful testing, emphasizing the administration's commitment to implementing this controversial immigration strategy.
How we got here
Initially proposed in February 2025, the gold card program is designed to attract wealthy investors to the U.S. by offering expedited residency. The program's implementation is being overseen by Elon Musk's Department of Government Efficiency, which is working on the necessary digital infrastructure.
Go deeper
- What are the main criticisms of the gold card program?
- How does this proposal compare to the EB-5 visa?
- What are the potential legal challenges for this immigration initiative?
More on these topics
-
Elon Reeve Musk FRS is an engineer, industrial designer, technology entrepreneur and philanthropist. He is the founder, CEO, CTO and chief designer of SpaceX; early investor, CEO and product architect of Tesla, Inc.; founder of The Boring Company; co-foun
-
Donald John Trump is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021.
-
Howard William Lutnick is an American billionaire businessman, who succeeded Bernard Gerald Cantor as the head of Cantor Fitzgerald. Lutnick is the chairman and CEO of Cantor Fitzgerald and BGC Partners.
-
The United States of America, commonly known as the United States or America, is a country mostly located in central North America, between Canada and Mexico.