President Trump Proposes a $5 Million 'Gold Card' Program for US Residents

Former US President Donald Trump has just announced a noteworthy proposal: selling "gold cards" for $5 million to foreigners who want to settle in the US. This is a new program aimed at attracting wealthy investors, promising to generate huge revenue for the US economy.

Program Details

According to Trump's plan, each "gold card" would cost $5 million, offering residency rights and a pathway to U.S. citizenship, similar to the current green card but with more privileges. President Trump expects the program to sell up to 10 million cards, generating $50 trillion in revenue for the U.S. government.

This proposal is presented as an alternative to the current EB-5 investment visa program, which requires foreign nationals to invest at least $800,000 in job-creating projects in the United States. However, the EB-5 program has faced numerous issues over the years regarding fraud and delays in the application process.

Economic Goals and Impacts

This "yellow card" program targets the ultra-wealthy, not only giving them the opportunity to live in the US but also contributing to job creation, increased spending, and tax revenue for the American economy. Trump emphasized that the money raised from this program could help reduce the US national debt, which is currently at a record high.

Analysts believe that if implemented, this plan could become one of the most lucrative immigration programs in U.S. history. However, there are also concerns about its feasibility and enforceability, especially given the close scrutiny of U.S. immigration policy from Congress and regulatory agencies.

Reactions from the Public and Political Circles

This program immediately attracted significant public attention. Some supporters argued it was a clever initiative to leverage the purchasing power of the super-rich, helping the U.S. attract capital without raising taxes. However, opponents worried that granting residency based on money could undermine the core values ​​of the U.S. immigration system and create inequality.

Currently, this proposal has not been officially approved and may face many challenges when it is brought before Congress. But it cannot be denied that this is a bold move by Trump as he prepares for his 2024 election campaign.

Does President Trump have the authority to change the EB-5 program?

Although President Trump has the authority to propose new policies, replacing the EB-5 program with a "Yellow Card" cannot be implemented by executive order .

• The EB-5 program is protected by federal law, specifically the EB-5 Reform and Integrity Act (RIA) of 2022 , which is in effect until September 30, 2027 .
• Only the U.S. Congress has the power to change or repeal the EB-5 program, as immigration is a matter within legislative authority.
• An executive order cannot override a federal law . If Trump unilaterally eliminates EB-5, this action could be challenged in court and overturned.

Therefore, if Trump wants to replace the EB-5 program with a "Yellow Card," he needs Congress to pass a new law, which is not an easy task.

Can Congress pass a “Yellow Card” program?

For a "Yellow Card" to become a reality, Trump needs the support of Congress , but there are currently many obstacles:

• Sixty votes are needed in the Senate to pass a filibuster. Given the delicate balance between the two parties , this is highly unlikely.
• Not all Republican lawmakers support this plan. Many states that benefit from EB-5 (due to job creation and investment) will oppose its elimination.
• Powerful political advocacy groups like IIUSA and AIIA are fighting to protect the EB-5 program. They argue that the EB-5 has brought billions of dollars in investment and created hundreds of thousands of jobs for Americans, and there is no reason to replace it.

Therefore, the likelihood of the "Yellow Card" being approved by the National Assembly is very low, at least during this term.

The impact of the "Yellow Card" on current EB-5 investors

Those participating in or planning to invest in the EB-5 program may wonder if they will be affected. The answer is: NO.

• According to RIA 2022 , anyone who files an EB-5 application before September 30, 2026, is protected . Even if EB-5 is eliminated in 2027, these investors will still receive green cards under the current pathway.
• The EB-5 program remains legal and continues to operate . Investors should take advantage of this opportunity now instead of waiting for a program with no guarantees, like the "Golden Card."

Therefore, if you are considering immigrating to the US through investment, the EB-5 program remains the safest and most reliable option .

Conclude

Despite ongoing controversy, Trump's $5 million "gold card" program is a hot topic in discussions about US immigration policy. If implemented, it could generate enormous financial resources, but it also raises many questions about fairness and transparency in the country's immigration system.

This article is based on official sources from the FT, NY Post, and WSJ.