WASHINGTON: President Donald Trump said Wednesday that he plans to start selling a “gold card” visa with a potential pathway to US citizenship for $5 million, seeking to have that new initiative replace a 35-year-old visa program for investors.
“I happen to think it’ll sell like crazy. It’s a market,” Trump said. “But we’ll know very soon.”
During the first meeting of his second-term Cabinet, Trump suggested that the new revenue generated from the program could be used to pay off the country’s debt.
“If we sell a million, that’s $5 trillion dollars,” he said. Of the demand from the business community to participate, he said “I think we will sell a lot because I think there’s really a thirst.”
Commerce Secretary Howard Lutnick told reporters during the same meeting that Trump’s initiative would replace the EB-5 program, which offers US visas to investors who spent about $1 million on a company that employs at least 10 people.
Lutnick said that program “has been around for many years for investment in projects” but “it was poorly overseen, poorly executed.”
The new program could mark a dramatic shift in US immigration policy but isn’t unprecedented elsewhere. Countries in Europe and elsewhere offer what have become known as “golden visas” that allow participants to pay in order to secure immigration status in desirable places.
Congress, meanwhile, determines qualifications US for citizenship, but the president said “gold cards” would not require congressional approval.
Trump said of future possible recipients of the gold visa program: “They’ll be wealthy and they’ll be successful and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people, and we think it’s going to be extremely successful.”
Henley & Partners, an advisory firm, says more than 100 countries around the world offer “golden visas” to wealthy individuals and investors. That list includes the United States, United Kingdom, Spain, Greece, Malta, Australia, Canada and Italy.
“Companies can buy gold cards and, in exchange, get those visas to hire new employees,” Trump said. Despite similar programs already occurring outside the US, he insisted, “No other country can do this because people don’t want to go to other countries. They want to come here.”
“Everybody wants to come here, especially since Nov. 5,” he said of his Election Day victory last fall.
Lutnick suggested that the gold card — which would actually work, at least to start, more like a green card, or permanent legal residency — would raise the price of admission for investors and do away with fraud and “nonsense” that he said characterize the EB-5 program.
A pathway to citizenship as part of the new program also would set it apart from the EB-5 program. Trump said vetting people who might be eligible for the gold card will “go through a process” that is still being worked out.
Pressed on if there would be restrictions on people from China or Iran not being allowed to participate, Trump suggested it will likely not “be restricted to much in terms of countries, but maybe in terms of individuals.”
About 8,000 people obtained investor visas in the 12-month period ending Sept. 30, 2022, according to the Homeland Security Department’s most recent Yearbook of Immigration Statistics.
The Congressional Research Service reported in 2021 that EB-5 visas pose risks of fraud, including verification that funds were obtained legally. Then-President Joe Biden signed a 2022 law bringing big changes to the EB-5 program, including steps meant to investigate and sanction individuals or entities engaged in fraud as part of it — meant to curb some of those risks.
Trump offered few details on how the new program might work, including making no mention of existing EB-5 requirements for job creation. While the number of EB-5 visas is capped, meanwhile, the Republican president mused that the federal government could sell 10 million “gold cards” to reduce the deficit. He said it “could be great, maybe it will be fantastic.”
“It’s somewhat like a green card, but at a higher level of sophistication,” the president said. “It’s a road to citizenship for people — and essentially people of wealth or people of great talent, where people of wealth pay for those people of talent to get in, meaning companies will pay for people to get in and to have long, long term status in the country.”
Trump sees ‘a thirst’ for his ‘gold card’ visa idea with $5 million potential path to US citizenship
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Trump sees ‘a thirst’ for his ‘gold card’ visa idea with $5 million potential path to US citizenship
- Trump said of future possible recipients of the gold visa program: “They’ll be wealthy and they’ll be successful and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people
House Republicans barely defeat Venezuela war powers resolution to check Trump’s military actions
WASHINGTON: The House rejected a Democratic-backed resolution Thursday that would have prevented President Donald Trump from sending US military forces to Venezuela after a tied vote on the legislation fell just short of the majority needed for passage.
The tied vote was the latest sign of Republican House Speaker Mike Johnson’s tenuous hold on the majority, as well as some of the growing pushback in the GOP-controlled Congress to Trump’s aggressions in the Western Hemisphere. A Senate vote on a similar resolution was also tied last week until Vice President JD Vance broke the deadlock.
To defeat the resolution Thursday, Republican leaders had to hold the vote open for more than 20 minutes while Republican Rep. Wesley Hunt, who had been out of Washington all week campaigning for a Senate seat in Texas, rushed back to Capitol Hill to cast the decisive vote.
On the House floor, Democrats responded with shouts that Republican leaders were violating the chamber’s procedural rules. Two Republicans — Reps. Don Bacon of Nebraska and Thomas Massie of Kentucky — voted with all Democrats for the legislation.
The war powers resolution would have directed Trump to remove US troops from Venezuela. The Trump administration told senators last week that there are no US troops on the ground in the South American nation and committed to getting congressional approval before launching major military operations there.
But Democrats argued that the resolution is necessary after the US raid to capture Venezuelan leader Nicolás Maduro and since Trump has stated plans to control the country’s oil industry for years to come.
The response to Trump’s foreign policy
Thursday’s vote was the latest test in Congress of how much leeway Republicans will give a president who campaigned on removing the US from foreign entanglements but has increasingly reached for military options to impose his will in the Western Hemisphere. So far, almost all Republicans have declined to put checks on Trump through the war powers votes.
Rep. Brian Mast, the Republican chair of the House Armed Services Committee, accused Democrats of bringing the war powers resolution to a vote out of “spite” for Trump.
“It’s about the fact that you don’t want President Trump to arrest Maduro, and you will condemn him no matter what he does, even though he brought Maduro to justice with possibly the most successful law enforcement operation in history,” Mast added.
Still, Democrats stridently argued that Congress needs to assert its role in determining when the president can use wartime powers. They have been able to force a series of votes in both the House and Senate as Trump, in recent months, ramped up his campaign against Maduro and set his sights on other conflicts overseas.
“Donald Trump is reducing the United States to a regional bully with fewer allies and more enemies,” Rep. Gregory Meeks, the top Democrat on the House Foreign Affairs Committee, said during a floor debate. “This isn’t making America great again. It’s making us isolated and weak.”
Last week, Senate Republicans were only able to narrowly dismiss the Venezuela war powers resolution after the Trump administration persuaded two Republicans to back away from their earlier support. As part of that effort, Secretary of State Marco Rubio committed to a briefing next week before the Senate Foreign Relations Committee.
Yet Trump’s insistence that the US will possess Greenland over the objections of Denmark, a NATO ally, has alarmed some Republicans on Capitol Hill. They have mounted some of the most outspoken objections to almost anything the president has done since taking office.
Trump this week backed away from military and tariff threats against European allies as he announced that his administration was working with NATO on a “framework of a future deal” on Arctic security.
But Bacon still expressed frustration with Trump’s aggressive foreign policy and voted for the war powers resolution even though it only applies to Venezuela.
“I’m tired of all the threats,” he said.
Trump’s recent military actions — and threats to do more — have reignited a decades-old debate in Congress over the War Powers Act, a law passed in the early 1970s by lawmakers looking to claw back their authority over military actions.
The war powers debate
The War Powers Resolution was passed in the Vietnam War era as the US sent troops to conflicts throughout Asia. It attempted to force presidents to work with Congress to deploy troops if there hasn’t already been a formal declaration of war.
Under the legislation, lawmakers can also force votes on legislation that directs the president to remove US forces from hostilities.
Presidents have long tested the limits of those parameters, and Democrats argue that Trump in his second term has pushed those limits farther than ever.
The Trump administration left Congress in the dark ahead of the surprise raid to capture Maduro. It has also used an evolving set of legal justifications to blow up alleged drug boats and seize sanctioned oil tankers near Venezuela.
Democrats question who gets to benefit from Venezuelan oil licenses
As the Trump administration oversees the sale of Venezuela’s petroleum worldwide, Senate Democrats are also questioning who is benefiting from the contracts.
In one of the first transactions, the US granted Vitol, the world’s largest independent oil broker, a license worth roughly $250 million. A senior partner at Vitol, John Addison, gave roughly $6 million to Trump-aligned political action committees during the presidential election, according to donation records compiled by OpenSecrets.
“Congress and the American people deserve full transparency regarding any financial commitments, promises, deals, or other arrangements related to Venezuela that could favor donors to the President’s campaign and political operation,” 13 Democratic senators wrote to White House Chief of Staff Susie Wiles Thursday in a letter led by Democratic Sen. Adam Schiff of California.
The White House has said it is safeguarding the South American country’s oil for the benefit of both the people of Venezuela and the US
