Overview

• President Trump unveiled the Gold Card visa proposal on April 4, offering U.S. permanent residency and a path to citizenship for a $5 million investment without Congressional approval.
• The proposal aims to replace the EB-5 visa program, which requires investments tied to job creation, but faces legal challenges as visa creation authority rests with Congress.
• Commerce Secretary Howard Lutnick claimed significant interest in the Gold Card, but reports indicate no confirmed transactions or exchanged funds to date.
• Republican lawmakers blocked the Gold Card's inclusion in the House Judiciary Committee's immigration fee legislation, citing ethical and policy concerns about selling U.S. residency.
• The administration continues to develop the application infrastructure with Elon Musk's DOGE team, but the proposal remains unimplemented and its viability is in doubt.