President Donald Trump signed an executive order on Friday officially creating the ‘Gold’ and ‘Platinum’ cards for heavy-pocketed immigrants wanting to get into the country.
The ‘Gold’ card will cost $1 million, and the ‘Platinum’ card will cost $5 million.
Trump previously pitched the gold card as a replacement for the EB-5 visa program.
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The president believes the program will bring in more than $100 billion for the Treasury Department. He says the funds will be used “for cutting taxes and paying down debt.”
Commerce Secretary Howard Lutnick said the new program will allow the United States to “only take extraordinary people at the very top.”
“Instead of people trying to take jobs from the Americans, they’re going to create businesses and create jobs for Americans,” Lutnick said.
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