Commerce Secretary Howard Lutnick attempts to calm concerns over Trump's 'gold card' visa pitch
Published On Feb 26, 2025, 7:36 PM
Commerce Secretary Howard Lutnick addressed concerns regarding President Trump's proposal for a new $5 million 'gold card' visa that would replace the EB-5 Immigrant Investor Program. The plan suggests that wealthy foreign investors could gain U.S. citizenship by investing in the country. Lutnick emphasized that applicants would be thoroughly vetted and would contribute positively to the American economy through job creation and tax contributions. He noted that there are currently 250,000 people interested in this visa, which could potentially generate significant revenue for the government if widely adopted.
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The proposed 'gold card' visa could attract considerable foreign investment into the United States, particularly from wealthy individuals looking for citizenship. This influx of capital is likely to benefit industries reliant on investment, such as real estate and venture capital, leading to job creation in various sectors. Companies involved in real estate and those dependent on investment funding may see positive effects from increased foreign interest.
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