President Donald Trump defended his proposed $5 million “gold card” visa, a replacement for the EB-5 immigrant investor program, emphasizing strict vetting and the possibility of refunds and deportation if issues arise. Speaking with Fox News’ Laura Ingraham, Trump framed the program as a way to grant green card privileges and citizenship while helping reduce the $36 trillion national debt.
Trump suggested selling 1 million gold cards to wealthy immigrants, potentially generating $5 trillion for debt reduction. When questioned about the risk of “unsavory” individuals exploiting the program, Trump assured that strict screening would be in place, with problematic applicants receiving refunds before being deported.
The existing EB-5 program, established in 1990 to boost the U.S. economy through foreign investment, could face legal hurdles if the Trump administration seeks to dismantle it. Commerce Secretary Howard Lutnick criticized the current system as rife with fraud, reinforcing the push for a new approach.
