President Trump launched a website Wednesday for people to register their interest in signing up for a “gold card” that would enable successful applicants to buy U.S. permanent residency for $5 million.
The big picture: Trump has suggested the card that would replace the EB-5 investor visa could result in 1 million units sold and raise enough money to retire the national debt.
State of play: The president announced in February his plan to replace EB-5 offers, which have granted green cards to individuals who invest in the U.S. since 1990.
- The site that launched on Wednesday, trumpcard.gov, is currently only for people to register their names, email addresses and the regions they’re from.
The intrigue: It’s unclear whether the Trump administration could terminate or change the EB-5 program without congressional approval.
- Commerce Secretary Howard Lutnick said last month during an Axios Building the Future event that he expected trumpcard.gov to launch within a week.
- It was not immediately clear what was behind the delay or what the next steps would be, and representatives for the Commerce Department did not immediately respond to Axios’ request for comment on Wednesday evening.
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