President Donald Trump Continues to insist on a “golden card” visa with which foreign subjects can buy their way to the US, to replace a controversial visa schedule that has been chased for years by worries about potential abuse by China.
Trump again praised his plan for the gold card, with which people can buy a road to citizenship for $ 5 million, on ‘Sunday Morning Futures’.
“I believe that Apple and all these companies that people cannot let people study and come because they are being thrown away, you think about it number one at the Wharton School of Finance or Harvard or Stanford, and you will be thrown out of the country. You can’t do more than part of their deal. Get these top students,” Trump said on Sunday.
“You will have many companies that buy gold cards. So for $ 5 million now it is a lot of money if you add it if we sell a lot,” he said, later descriptive as a “green card on steroids.”
Trump praises $ 5 million ‘Gold Card’ as a new path to citizenship
The then President-Elect Donald Trump laughs during the Turning Point USAs Americest in the Phoenix Convention Center on December 22, 2024 in Phoenix. (Rebecca Noble/Getty images)
Host Maria Bartiromo asked Trump to ensure that the Chinese can exploit it.
“They can, and they can, but they don’t have to do that. They can do it in other ways,” Trump said.
The visa would replace the EB-5 Investor Visa program. That program was founded in the nineties and usually required an investment of $ 1 million, but that could be as low as $ 500,000 in areas classified as high poverty, and creating at least 10 jobs.
Unsuccessful efforts had been made to reform the program in both the Obama and Trump administrations, in the midst of concern that the program was used by the Chinese Communist Party.
“Although the aim of the EB-5 program to stimulate capital investments and creating jobs in the United States, it has become clear in recent years that the CCP can abuse the program to gain access to the American permanent residence for their members,” House Judiciary Committee said in 2020.
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They mentioned statistics that show that between 2012 and 2018 almost 80% of almost 10,000 visas went to investors born in China and that the majority of investors were in the backlog of Chinese.
It also included creating “regional centers” that bundled the visa money and financed large investments throughout the country. Although intended to promote growth in poor or rural areas, the drawing of regional maps on specific impoverished bags was used to pump money into luxury projects in places such as New York City and San Francisco.
Chinese President Xi Jinping focuses on the opening ceremony of the autumn semester of the Party School of the Communist Party of China in Beijing. (AP Photo/Xinhua, Li Tao)
A dual attempt to reform the program was blocked in 2021 and the financing for the program could expire. It was later Stayed in 2022 With reforms introduced by Sens. Chuck Grassley, R-IIWA and Patrick Leahy, D-VT.
The reforms were aimed at tackling fraud and includes audits, background controls and site visits for EB-5 projects, as well as stricter definitions of terms such as “capital” to prevent abuse. It also increased the level of financing needed for high poverty areas of up to $ 800,000. Of the 10,000 EB-5S that are made available every year, 2,000 will be reserved for national or high poverty.
Provisions also include an increased Ministry of Interior Security (DHS) powers to go through foreign capital to ensure that it is legally produced, and those foreign agents and external promoters of the program must register to register with DHS.
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However, the EB-5 continues to draw up criticism, whereby some immigration havals say that it has not solved the fundamental issues with the program. Commerce Secretary Howard Lutnick recently described the program as ‘bad overview of, poorly executed’.
Lora Ries, director of the Border Security and Immigration Center of the Heritage Foundation, shared those worries about EB-5.
“With any immigration advantage in America, if you offer it, they will come and too often search or use the benefit fraudulently. The EB-5 Investor Visa program is no exception, as the commercial secretary Lutnick mentioned. Examples of fraud those programs, include claims of false jobs,” she said fake projects and pyramamid’s.
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“Aliens see immigration -benefit fraud as a low risk, high reward because it is rarely investigated, let alone punished. It is a reason why we have more than 9 million immigration benefits that are awaiting DHS and an almost 4 million immigration cases hanging with Doj,” she said.
“It is important to investigate the current backlogs Immigration advantage fraudDeposit those cases and deport the alien applicants, who help to achieve an administration priority – massive deportations, “she added.
