President Donald Trump recently announced a new immigration proposal that aims to attract wealthy foreigners to the US through a 'gold card' program. The plan would offer investors a path to US citizenship for $5 million, with Commerce Secretary Howard Lutnick suggesting it could raise $1 trillion to pay down the national debt.
However, immigration law experts have raised several concerns about the feasibility of this proposal. They point out that creating a new visa category, as described by Trump, would require congressional legislation and cannot be implemented by the president alone.
The proposed 'gold card' would grant lawful permanent resident status and a pathway to citizenship, which goes beyond the executive actions taken by previous administrations like DACA and CHNV. Experts emphasize that any significant changes to existing immigration programs, such as the EB-5 investor visa, would need to be approved by Congress.
While Trump's supporters applaud his innovative approach, critics argue that the proposal prioritizes wealth over merit and national interest. The potential impact on existing EB-5 visa applicants remains uncertain, with concerns raised about fairness and economic consequences.
Questions also linger about the vetting process for 'gold card' applicants and the risk of attracting criminal elements seeking US citizenship. Transparency International has warned about the potential misuse of the program by corrupt actors.
Despite the legal and practical challenges surrounding the 'gold card' proposal, some see an opportunity to address the need for more green cards and recognize the economic contributions of immigrants. The debate continues on whether Trump's vision for a 'gold card' immigration system will ever come to fruition.
