Baotou News reports: U.S. Commerce Secretary Howard Lutnick confirmed on the 23rd that only one applicant has been approved for the immigration 'Golden Card' program proposed by President Trump and launched last year.
Lutnick stated during a hearing in the House of Representatives that despite only one approval for the 'Golden Card' program recently, 'there are still hundreds of applicants waiting in line for approval.' He attempted to explain that the program has just launched, and the relevant departments hope to 'get it right.'
Image source: CCTV News
Trump announced the launch of the immigration 'Golden Card' in February 2025, initially priced at $5 million, claiming it would create a new visa pathway for 'foreign nationals with extraordinary abilities willing to support America.' The program was officially established after Trump signed the 'Golden Card' executive order in September last year, and applications began to be accepted in December of the same year.
It is reported that to obtain this 'Golden Card', referred to by Trump as the 'enhanced green card', as well as expedited processing, applicants must pay $1 million to the US Treasury or have a business sponsor pay $2 million plus a 1% annual maintenance fee, along with a $15,000 processing fee to the Department of Homeland Security, and undergo what Lutnik describes as 'extremely rigorous scrutiny and analysis'.
Last September, Trump predicted on social media that the 'Golden Card' would soon generate over $100 billion in revenue, which would be used for tax cuts, projects to boost economic growth, and repaying national debt.
US media pointed out that the growth rate of the US economy has been persistently lower than the inflation rate of government bonds, and the government has failed to effectively cut spending. Against this backdrop, the 'Golden Card', which focuses on selling residency rights at high prices, attempts to ease the fiscal crisis through 'rich immigrant blood transfusions', clearly indicating a desire to 'rake in cash'.
Trump announced the launch last December, stating that the 'Golden Card' program is a way for the US to attract and retain top talent while generating revenue for the federal government. Trump also mentioned that all funds as part of this plan would 'belong to the US government', and he expects billions of dollars to flow into an account managed by the Treasury, saying, 'We can do some positive things for the country there.' He added that this new program is essentially a green card, effectively providing permanent legal residency and a pathway to citizenship. 'Basically, it's a green card, but much better,' he said.
Trump also mentioned that he heard complaints from some business leaders who are unable to recruit talented graduates from US universities because they come from other countries and have not obtained residency permits. He added, 'You can't recruit talent from the best universities because you don't know if you can keep that person.'
Trump said this plan means that the US 'is bringing in some outstanding people into our country because we believe these people will be remarkable', specifically noting that top university graduates from China, India, and France may receive the Golden Card. 'Companies will be very happy,' he said.
Source: Daily Economic News, compiled from CCTV News and Caixin.
