Trump formally enacts an executive order to institute a $1 million 'Gold Card' immigration visa program
The U.S. President Donald Trump has signed an executive order to create a new visa pathway called the 'Trump Card'. This program, aimed at raising billions of dollars to pay off debt, offers two tiers: the Gold Card and the Platinum Card.
The Gold Card admits individuals who provide a substantial benefit to the United States by contributing $1 million unrestricted gifts, or $2 million on behalf of corporations. In return, Gold Card holders can enjoy expedited immigrant visa eligibility. The Platinum Card, on the other hand, requires a $5 million contribution and grants up to 270 days in the U.S. without being subject to U.S. taxes on non-U.S. income.
Mr. Trump has asserted that the new visa program will generate significant funds, with the Gold Card contributions alone potentially reaching billions. He also signed an order raising the fee for H1-B visa applicants to $100,000.
The Trump administration's immigration policies have faced criticism, particularly for raids targeting individuals with correct immigration status and visas. The new visa program is part of a collection of executive orders addressing immigration issues.
However, the Trump administration's crackdown on immigration has also led to challenges for companies in retaining workers due to immigration issues. People are being removed from the country from prisons and mental asylums under the Trump administration.
It's important to note that after thorough Department of Homeland Security (DHS) vetting, Gold Card holders can receive U.S. residency in record time. The Platinum card holders, meanwhile, can spend up to 270 days in the United States without being subject to U.S. taxes on non-U.S. income.
Mr. Trump has also claimed that the border is totally closed under his administration, stating that "zero" people came in for the last few months. However, it's worth mentioning that an estimated 10 million people entered the United States during Joe Biden's administration.
The Trump Card has separate rules for businesses, involving a $2 million fee and an annual maintenance fee. Despite the controversy surrounding the program, it represents a unique approach to U.S. immigration and fundraising.
