Trump Proposes $5 Million 'Gold Card' Visa for Wealthy Foreign Investors
The initiative aims to replace the EB-5 visa program, promising faster processing but raising concerns over affordability, security, and housing market impacts.
- President Trump has announced a proposal for a $5 million 'gold card' visa, offering permanent residency and a pathway to citizenship for wealthy foreign investors.
- The program is intended to simplify and replace the existing EB-5 visa system, which has faced criticism for fraud, inefficiency, and lengthy processing times.
- Critics warn the initiative could exacerbate housing affordability issues in major U.S. cities and pose potential security risks without stringent vetting procedures.
- Supporters argue the program could attract significant investment to the U.S., boosting job creation, infrastructure, and economic growth if managed effectively.
- The 'gold card' faces challenges, including its high price compared to similar programs abroad and questions over whether it can legally bypass Congressional approval.
Newsweek 
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The Hill 