President Donald J. Trump and his newly confirmed Commerce Department Secretary Howard Lutnick have announced the United States will soon end the EB-5 visa program. Foreign nationals have abused the program through fraud to cheaply purchase a green card, officially known as a Permanent Resident Card. The announcement, made as President Trump fielded questions from the press in the Oval Office, marks a significant shakeup in the U.S. visa system.
According to the America First leader, the EB-5 visa program will instead be replaced by what Trump describes as a “Gold Card.” Foreign nationals looking to attain U.S. residency will face a new series of requirements, with Trump floating a $5 million payment to the U.S. Treasury for the purposes of paying down the national debt, along with other guarantees on investments and creating jobs for American workers.
Commerce Secretary Lutnick explained, “So the EB-5 program was really… it was all full of nonsense, make-believe, and fraud. And it was a way to get a green card that was low price. So the President said, rather than having this sort of ridiculous EB-5 program, we’re going to end the EB-5 program, and we’re going to replace it with the Trump Gold Card.”
The abuse of U.S. visa programs has been a major issue for President Trump’s MAGA political base. Shortly before Trump’s inauguration in January, social media descended into a policy fight between the America First leader’s MAGA supporters and billionaire Elon Musk over H-1B visas. The work visa program is rife with fraud and abuse, costing American workers jobs and allowing already wealthy companies to import tens of thousands of cheap foreign workers every year. […]
— Read More: thenationalpulse.com
