President Donald Trump is proceeding to a “Gold Card” visa, which will allow foreign nationals to buy their way in the US, replacing a controversial visa plan that has been dogs over the years with concerns about potential misuse by China.
Trump again planned for the gold card, which would allow people to buy a route for citizenship for $ 5 million on “Sunday morning futures”.
“I am confident that Apple and all these companies that cannot come out of college and come because they are thrown out, I think you graduate the number one in the Wharton School of Finance or Harvard or Stanford, and you go out of the country. You can’t live more than a day. These top students said on Sunday.
He said, “You have many companies buying gold cards. So now for $ 5 million, when you add it, it’s a lot of money, if we sell a lot of them,” he said, later described it as “Green Card on Steroid”.
Trump postponed $ 5 million ‘Gold Card’ as a new way to citizenship
The then presidential-election Donald Trump smiles during the USA’s Americanfast on December 22, 2024 at Phoenix at the Phoenix Convention Center. (Rebecca Noble/Getty Images)
Host Maria Bartiromo asked Trump about concerns that Chinese could exploit it.
“They can, and they can, but they don’t have to do so. They can do it in other ways,” Trump said.
Visa EB -5 investor will replace visa program. The program was established in the 1990s and usually requires an investment of $ 1 million, but it may be reduced as $ 500,000 in areas classified as high poverty, and as the manufacture of at least 10 jobs.
Efforts were made to improve the program in both Obama and Trump administration, amidst the concern that the program was used by the Chinese Communist Party.
Republican of the House Judicry Committee said in 2020, “Although the EB -5 program to encourage capital investment and employment generation in the United States is commendable, in recent years it has become clear that the CCP can misuse the program to achieve access to American permanent residence for its members.”
Trump has returned to the ‘America’ speech before the Congress
He cited the figures that suggest that between 2012 and 2018, about 80% of Chinese -born in investors of about 10,000 visas went to investors and most of the investors in the backlog were Chinese.
It also included the construction of “regional centers”, which deposited visa money and funded large investments across the country. To promote growth in poor or rural areas, a picture of regional maps around specific poor pockets was used to pump money in luxury projects in places like New York City and San Francisco.
Chinese President Xi Jinping addressed the inauguration ceremony of the Autumn Semester of the Communist Party’s party school of China in Beijing. (AP Photo/Xinhua, Lee Tao)
A bipartished attempt to improve the program was blocked in 2021 and allowed to eliminate funds for the program. It was later revived in 2022 with the reforms introduced by the sensor Chak Grassley, R-Eova, and Patrick Lehi, D-VT.
Improvements aimed at dealing with fraud include audit, background checks and site visits for EB -5 projects, as well as tight definitions of conditions like “capital” to prevent misbehavior. This increased the level of funds required for high poverty areas to $ 800,000. Out of the 10,000 EB -5 available each year, 2,000 will be kept for rural or high poverty areas.
The provisions enlarged the increased Homeland Security Department of Homeland Security (DHS) powers also require foreign agents and third party promoters to ensure that it is legally sour, to ensure that it is legally sour, and registration with DHS.
Click here for more immigration coverage
However, the EB -5 continues to criticize, some immigration Hawks stated that it does not resolve fundamental issues with the program. Commerce Secretary Howard Lutnik recently described the program as a “poor care, poorly executed”.
Lura Rees, director of the Border Security and Immigration Center at the Heritage Foundation, shared those concerns about EB -5.
“With any immigration benefit in the US, if you offer it, they will come, and often seek benefits or use fraud. EB -5 investor visa program is no exception, as mentioned by Commerce Secretary Lutynik. Examples of fraud states that the program includes claims of false employment, bogas projects and Piramid Investment Schemes.
Click here to get Fox News app
“Aliens immigration benefits see fraud as a low risk, high reward because it is rarely investigated alone. This is one of the reasons why we have more than 9 million immigration benefits pending in DHS and about 4 million immigration cases pending in applications and DOJs,” he said.
He said, “Immigration benefits check the current backlog, denying cases, and exile to foreign applicants, which helps to complete a administration priority – large -scale exile,” she said.
I am a passionate digital marketer, content writer, and blogger. With years of experience in crafting compelling content and driving digital strategies. I’m always exploring new trends, optimizing strategies, and creating content that resonates with audiences. When I’m not working, you’ll find me diving into the latest digital marketing insights or experimenting with new blogging ideas.