On Friday, President Donald Trump issued an executive order introducing a “gold card” visa program. This option allows “extraordinary” foreigners to pay $1 million for expedited immigration into the United States.
Trump made the announcement in the Oval Office, flanked by Commerce Secretary Howard Lutnick and White House Secretary Will Scharf. Foreign nationals can either pay the $1 million directly to the Treasury or, alternatively, companies can sponsor them for $2 million.
“One of our biggest challenges is that people go to the top schools, excel, but end up being expelled from the country,” Trump remarked. “They aren’t allowed to remain here.”
He added, “This method allows businesses to keep these individuals in the country, similar to how sports teams offer signing bonuses.”
Lutnick noted that the current employment-based green card system has allowed 281,000 migrants, who make an average of $66,000 annually, to enter the U.S. He also mentioned, “They are five times more likely to utilize government support programs.”
“Essentially, we have been bringing in individuals from the bottom tier relative to the average American. It was an illogical approach and, frankly, the only country doing this,” he concluded.
The Secretary of Commerce emphasized that Gold Card Visa holders would contribute to job creation in America instead of being seen as a burden.
“What we are doing now is halting that. We’re focusing on attracting extraordinary talent. Instead of those competing for American jobs, they will be generating businesses and jobs for Americans,” he elaborated.
Trump also highlighted a recent measure that restricts the entry of certain non-immigrant workers, including specific H-1B visa holders, who would now need to pay a fee of $100,000, alongside additional costs for companies.
“Large companies will no longer have the option to train foreign workers without paying this fee, which means they have to ensure their employees are compensated properly,” he stated.
“If there’s a need for training, we should be helping our recent graduates from top universities here. Let’s focus on training Americans, instead of bringing others to fill our roles,” he added.
