Selling Citizenship

Trump’s New $5 Million Gold Card Visa

Photo by Gage Skidmore / CC BY-SA 2.0

Donald Trump, the 47th president of the United States, has unveiled his plans for a new “gold card” visa for wealthy immigrants wanting to become U.S. citizens. For the price of $5 million, the card offers a much easier pathway to citizenship by giving green card privileges upon purchase.

“I think it is a good idea because each one costs 5 million and that money can be used in place of U.S. taxpayer dollars,” sophomore Piero Bassetti said.

Howard Lutnik, the U.S. commerce secretary, said that the program will launch in two weeks, with 250,000 people waiting to get the card. If they all purchase the card, the money raised would amount to over 1 trillion dollars for the federal government. However, Lutnik’s statement has raised suspicion, as there is currently no way to apply, and $5 million is a high price for U.S. citizenship, even for wealthy foreigners.

The card would replace the EB-5 immigrant program, in which immigrants who invest about $1 million in a U.S. company with at least 10 employees can obtain a green card. This program was created in 1990. In 2022, congress extended the EB-5 program until 2027, but Trump said that he would not need any congressional approval to change the program into a $5 million gold card one.

Trump says he aims to bring wealthy immigrants into the U.S. These immigrants may potentially employ other workers and bring more money into the federal government through spending and taxes, reducing the national debt.

“It is an interesting idea because there [will be] a way for wealthy foreigners who are trying to make good for themselves pay to be a legal citizen,” freshman Addie Sprague said. “This will help pay down our national debt since the money will go directly to that. It will also create jobs in our country.”

Nonetheless, the $5 million price tag raises concerns, as the majority of those wanting citizenship won’t be able to get it with the new program.

“I don’t think the golden visa plan would benefit many people,” upper school Spanish teacher Joseph McCann said. “A large portion of migrants and refugees are immigrating [to the U.S.] due to structural underemployment and lack of economic opportunity, so this policy move would only serve to make it easier for upper class individuals and not address the needs of the majority of those immigrating.”