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President Donald Trump He continues to press with a “gold card” visa that would allow foreign citizens to buy their way in the US.
Trump again promoted his plan for the gold card, which would allow people to buy a path to citizens for $ 5 million, in “Sunday Morning Futures.”
“I think Apple and all these companies that cannot make people leave the university and come because they are expelled, I think about it, graduate number one at the Faculty of Finance of Wharton or Harvard or Stanford, and they are thrown from the country. They cannot stay more than a day. And they want to hire these people, but they cannot. To get these best students,” Trump said Sunday.
“You are going to have many companies that buy gold cards. So, for $ 5 million now, it is a lot of money when you add it, if we sell many of them,” he said, then describing it as a “green card with steroids.”
Trump promotes the ‘gold card’ of $ 5 million as a new path to citizens
The then elected president Donald Trump smiles during Turning Point USA’s Americafest at the Phoenix Convention Center on December 22, 2024 in Phoenix. (Rebecca Noble/Getty images)
Host Maria Bartiromo asked Trump about the concerns that the Chinese can explode 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. This program was established in the 1990s and generally required an investment of $ 1 million, but that could be as low as $ 500,000 in areas classified as high poverty and the creation of at least 10 jobs.
There had been fruitless efforts to reform the program in the administrations of Obama and Trump in the midst of concerns that the program had been used by the Chinese Communist Party.
“Although the objective of the EB-5 program of stimulating capital investment and employment creation in the United States is commendable, in recent years it has been clear that the PCCH may be abusing the program to obtain access to the permanent residence of the United States for its members,” republicans in the Judicial Committee of the House of Representatives He said in 2020.
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They cited statistics that show that between 2012 and 2018, almost 80% of almost 10,000 visas were for investors born in China and that most investors in the order portfolio were Chinese.
He also involved the creation of “regional centers” that grouped the money from the visa and financed large investments throughout the country. Although it was intended to promote growth in poor or rural areas, the drawing of regional maps around specific impoverished pockets was used to pump money to luxury projects in places like New York and San Francisco.
The Chinese president, Xi Jinping, goes to the opening ceremony of the autumn semester of the Chinese Communist Party School in Beijing. (AP Photo/Xinhua, Li Tao)
A bipartisan attempt to reform the program was blocked in 2021 and the financing of the program was allowed to expire. It was later Risen in 2022 with reforms introduced by the sens. Chuck Grassley, R-Iowa, and Patrick Leahy, D-VT.
The reforms aimed to address fraud and included audits, background verifications and visits to the site for EB-5 projects, as well as strictest definitions of terms such as “capital” to prevent abuse. The level of financing necessary for high poverty areas also increased to $ 800,000. Of the 10,000 EB-5 available every year, 2,000 will be destined for rural or high poverty areas.
The provisions also include greater powers of the Department of National Security (DHS) to examine foreign capital to ensure that they are legally obtained, and that require that foreign agents and external promoters of the program be registered with DHS.
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However, the EB-5 continues to generate criticism, with some immigration hawks saying that it did not solve the fundamental problems with the program. The Secretary of Commerce, Howard Lutnick, recently described the program as “poorly supervised, poorly executed.”
Lora Ries, director of the Border Security and Immigration Center of the Heritage Foundation, shared those concerns about EB-5.
“With any immigration benefit in the United States, if it offers it, they will come, and too often they will seek or use the benefit in a fraudulent way. The EB-5 Investor Visa program is no exception, as mentioned by the secretary of Commerce Lutnick.
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“The aliens see the fraud of immigration benefits as a reward of low risk and high because it is rarely investigated, much less punished. It is a reason why we have more than 9 million requests for pending immigration benefits in DHS and others almost 4 million cases of immigration pending immigration in the DOJ,” he said.
“It is important to analyze current attacks to Immigration benefits fraudHe denies those cases and sport to alien applicants, which helps achieve an administration priority: mass deportations, “he added.
