Trump's "Gold Card" Visa Program Has Only One Approved Applicant, a Stark Contrast to the Trillion-Dollar Expectations

Odaily reported that U.S. Commerce Secretary Howard Lutnick stated during a congressional hearing that President Donald Trump's "Gold Card" visa program has so far approved only one applicant. This program is seen as a new initiative to replace the traditional EB-5 immigrant investor visa, allowing companies to pay $2 million for a foreign employee, along with a 1% annual maintenance fee. It permits foreigners to legally live and work in the United States by paying at least $1 million, with a pathway to citizenship.

Howard Lutnick previously stated that the program sold $1.3 billion worth of slots within days of its launch and is expected to generate up to $1 trillion in revenue to help ease the U.S. fiscal deficit. Although only one applicant has been officially approved so far, Lutnick noted that hundreds of other applicants are still undergoing the review process. (Fortune)