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Trump courts rich immigrants

2 13
26.02.2025
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The Big Story

Trump pitches ‘gold card’ to replace EB5 investor visa

The Trump administration said Tuesday that it would increase the funds required to secure the status while dubbing the new option a “gold card.”

© AP

Commerce Secretary Howard Lutnick told reporters in the Oval Office that the Trump administration would be ending the existing EB5 visa program, while President Trump boasted the new visa would bolster the economy.

“We’re going to be putting a price on that card of about $5 million and that’s going to give you green card privileges, plus it’s going to be a route to citizenship," Trump said.

"And wealthy people will be coming into our country by buying this card. They’ll be wealthy, and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people, and we think it’s going to be extremely successful,” he continued.

While Trump said the new system has “never been done before, anything like this,” the broad strokes of what he announced sound similar to the existing EB5 investor program, albeit with a higher price tag.

The current program requires would-be investors to invest a little over $1 million and create at least 10 jobs. It also puts investors on a pathway to a green card and later citizenship.

Read the full report at TheHill.com.

 

Welcome to The Hill’s Business & Economy newsletter, I'm Aris Folley — covering the intersection of Wall Street and Pennsylvania Avenue.

 

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Essential Reads

Key business and economic news with implications this week and beyond:

 

Live updates: Trump whips GOP holdouts in budget battle as vote is scheduled

House Republican leadership is aiming to muscle through a budget resolution Tuesday that would serve as a blueprint to pass large swaths of President Trump’s agenda.


Full Story

© The Hill