President Donald Trump said Tuesday that he will replace a controversial visa program for foreign investors with a new initiative to sell $5 million “gold cards” to wealthy individuals looking for a path to U.S. citizenship.
“They’ll be wealthy, and they’ll be successful,” Trump said in the Oval Office. “And they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people.”
Trump and Commerce Secretary Howard Lutnick said the new initiative will begin in two weeks and will reduce the federal deficit. The president shared few details on requirements, aside from the $5 million payment, but he said those who buy the gold cards will be given green-card privileges and “a route to citizenship.”
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