US President Donald Trump’s “gold card” visa, under which a foreigner can provide at least US$1 million to legally live and work in the US, has been approved for one person, Commerce Secretary Howard Lutnick said Thursday – falling short of earlier claims.
After it was launched in December, Lutnick said that the government had sold $1.3 billion “worth” in just a few days, while Trump stood holding up the decorated ticket and said, “It’s basically a green card on steroids.”
Lutnick did not address the apparent discrepancy in an exchange with the lawmaker at Thursday’s committee hearing.
Trump pushed the idea last year, initially proposing a cost of US$5 million, saying it would attract foreign talent to US shores and fill the federal coffers.
US ‘gold card’ visa fails to attract Chinese rich #ytshorts
US ‘gold card’ visa fails to attract Chinese rich #ytshorts
It is intended to replace the EB-5 program, a decades-old program that granted US visas to people who invested about US$1 million in a company with at least 10 employees.
Although only one person has been approved, “there are hundreds in the queue that they are going through”, Lutnick said, apparently pleased with the results of the program, at a congressional committee hearing on Thursday.
