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<\/figure>\n\n\n\nAsked whether he would consider selling the cards to Russian oligarchs, Trump responded: \u201cYeah, possibly. I know some Russian oligarchs that are very nice people.\u201d<\/p>\n\n\n\n
Commerce Secretary Howard Lutnick, standing alongside Trump, said the card will replace the government\u2019s EB-5 immigrant investor visa program, which allows foreign investors to pump money into US projects that create jobs and then apply for visas to immigrate to the US.<\/p>\n\n\n\n
\u201cThey\u2019ll have to go through vetting, of course,\u201d Lutnick said, \u201cto make sure they\u2019re wonderful world-class global citizens.\u201d<\/p>\n\n\n\n
Created by Congress in 1992, the EB-5 program can grant green cards to immigrants who make a minimum investment of least $1,050,000, or $800,000 in economically distressed zones called targeted employment areas, to create jobs for American workers, according to the United States Citizenship and Immigration Services website.<\/p>\n\n\n\n
Businesses connected to Trump and his family have also made use of the program to fund major property developments.<\/p>\n\n\n\n
The program drew bipartisan criticism from lawmakers in Congress during Trump\u2019s first term, with many warning that it had deviated from its goals and was in need of reform.<\/p>\n\n\n\n
The Trump administration in 2019 moved to raise the minimum investment amount for targeted economic areas to $900,000, and $1.8 million in other locations, but a federal judge struck down the change in 2021, finding that the acting Homeland Security secretary who authorized the rule had not been properly appointed.<\/p>\n\n\n\n
The program was last renewed in 2022 during the Biden administration, with the minimum investment requirements being raised to their current levels.<\/p>\n","protected":false},"excerpt":{"rendered":"
President Donald Trump said on Tuesday the US would sell a \u201cgold card\u201d to wealthy foreigners, giving them the right to live and work in the US and offering a path to citizenship in exchange for a $5 million fee. \u201cWe\u2019re going to be selling a gold card,\u201d Trump said from the Oval Office. \u201cYou […]<\/p>\n","protected":false},"author":4,"featured_media":9912,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5],"tags":[3135,1724,617],"class_list":["post-9911","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","tag-card","tag-trump","tag-us"],"yoast_head":"\n