Commerce Secretary Howard Lutnick attempts to calm concerns over Trump's 'gold card' visa pitch

Core Points - The "gold card" visa proposal by President Trump aims to attract foreign investors to the U.S. by allowing them to buy citizenship for $5 million, potentially replacing the existing EB-5 Immigrant Investor Program [2][3] - Commerce Secretary Howard Lutnick emphasized that applicants for the "gold card" will be thoroughly vetted and are expected to contribute to the U.S. economy by creating jobs and paying taxes [1][4] - There are currently about 250,000 individuals waiting for the "gold card" visa, which could generate $1.25 trillion if all are sold, and if a million are sold, it could amount to $5 trillion, significantly impacting U.S. debt and interest rates [4] Summary by Sections Visa Proposal - President Trump proposed a "gold card" visa that would allow foreign investors to gain U.S. citizenship for a $5 million investment, which is a shift from the EB-5 program [2][3] Economic Impact - The introduction of the "gold card" visa is expected to bring in substantial revenue, with Lutnick suggesting that selling a million cards could generate $5 trillion, which could help pay off national debt and lower interest rates [4] Vetting Process - Lutnick assured that the applicants for the "gold card" visa will be vetted, and they are expected to bring entrepreneurial skills and growth potential to the U.S. economy [1][4]