Commerce Secretary Howard Lutnick said 250,000 people are waiting for the new “Gold Card” visa announced by President Donald Trump.
Lutnick said in an interview with Fox News anchor Bret Baier on Wednesday the U.S. could earn more than $1 trillion if those people are willing to pay a $5 million price for a visa program originally meant for investors.
“So there are 250,000 people waiting in line now. If they’re willing to pay the $5 million, that’s over a trillion dollars that comes directly to — $1,250,000,000,000 just for that line,” Baier explained. “And I think these people are going to come enormous ways [sic] because they know they can come into America and they can be in the greatest country on Earth.”
Lutnick also said before a Cabinet meeting Wednesday that 250,000 people were waiting for the EB-5 visa program that allows applicants to obtain a Green Card if they make a “necessary investment” in a commercial “enterprise” within the U.S. and plan to create or preserve 10 jobs for American workers.
The commerce secretary said he, Treasury Secretary Scott Bessent and Homeland Security Secretary Kristi Noem will work on an “EB-5 investment model,” since they are “the best people together to do that.”
“So, the idea is we will have a proper business. We will modify the EB-5 agreement. Kristi and I are working on it together,” Lutnick explained. “For $5 million, they’ll get a license from the Department of Commerce. Then, they’ll make a proper investment on the EB-5, right?”
Recipients of what Trump called the new “Gold Card” visa will help grow the country, the commerce secretary added in the Fox News interview.
“These are vetted people. These are gonna be great global citizens who are going to bring entrepreneurial spirit, capacity and growth to America,” Lutnick said. “If one of them comes in, think of the jobs they’re gonna bring with them, the business they’re gonna bring with them. And they’re gonna pay American taxes as well. So, this is huge money for America.”
A California congressman, Democratic Rep. Ro Khanna, criticized the new program after public discussion of it. He used Google co-founder Sergi Brin; Sundar Pichai, the company’s CEO; and Microsoft CEO Satya Nadella as examples of people who did not have millions of dollars when developing successful businesses.
“You don’t need to have $5 million in your bank account to build a successful company in America,” Khanna said in a statement.
Have questions, concerns or tips? Send them to Ray at rjlewis@sbgtv.com. Content from The National Desk is provided by Sinclair, the parent company of FOX45 News.