Trump to auction off citizenship via his 'gold cards' for $5m to foreigners who create jobs

[LeftInTX]

74. I think writing details and regulation in an EO may be an obstacle. He can't eliminate the E1-5 visa without congress.

https://www.uscis.gov/working-in-the-united-states/permanent-workers/eb-5-immigrant-investor-program

Trump's $5 million 'gold card' visa unlikely to attract wealthy investors, advisers say

Trump said on Tuesday he planned to replace an existing EB-5 immigrant investor visa program, which requires a minimum $800,000 investment, with the gold card plan that would allow U.S. citizenship to foreigners promising to invest in U.S. businesses.
Details of the new plan would be released in two weeks, he said.
"I do not believe that the current POTUS offer will have a big impact, as getting a green card in the U.S. if you meet certain criteria, is not difficult," said Bassim Haidar, a former UK non-domiciled multimillionaire told Reuters.
"Paying $5 million for a golden visa and getting taxed on your global income defeats the purpose."
Trump's plan comes at a time when the European Union is putting pressure on member states to withdraw or tighten residency-by-investment programs, which can trigger house price bubbles and bring marginal benefits to GDP, as well as increase the risks of tax evasion and corruption.
"It also requires congressional approval so Trump alone cannot decide to eliminate the current EB-5 program. EB-5 is also about investing money so eliminating it wouldn't make sense."
https://www.reuters.com/world/us/trumps-5-million-gold-card-visa-unlikely-attract-wealthy-investors-advisers-say-2025-02-26/
https://archive.ph/FPJWJ

EU has "Gold Visas", however they're like our E1-5 visas.


If Trump tries to eliminate the E1-5 visa in an EO, the courts will strike it down.
If he tries to create a "new class", once again regulations would need to be involved.