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Only One Approval for Trump's Gold Card Program, Far Below Previous $100 Billion Expectations
On April 25, U.S. Secretary of Commerce Howard Lutnick stated during a congressional hearing that only one applicant has been approved for the Gold Card visa program launched by Trump. This program is seen as an alternative to the traditional EB-5 investment immigration plan, allowing foreigners to pay at least $1 million to legally reside and work in the U.S., with a pathway to citizenship. Lutnick previously mentioned that the Trump Gold Card program has sold $1.3 billion worth of slots and is expected to generate $1 trillion in revenue to help alleviate the U.S. budget deficit. Although only one person has been officially approved so far, Lutnick noted that hundreds of applicants are still undergoing the review process.