Trump Sets $5 Trillion Target from “Gold Card” — Bold Plan to Erase National Debt

President Donald Trump has announced plans to end the EB-5 Immigrant Investor Visa program and replace it with a new “Gold Card” that would offer applicants a “strong” path to US citizenship in exchange for a $5 million payment to the US government — suggesting it would function more like an economic contribution than a direct investment.

Speaking from the Oval Office alongside Commerce Secretary Howard Lutnick, Trump described the Gold Card as a bold strategy to attract high-net-worth individuals to the United States. The administration plans to roll out the program within two weeks.

“We’re going to be selling a Gold Card,” Trump said, noting that it would give holders the same privileges as a Green Card. “It’s a route to citizenship, and wealthy people will come into our country by buying this card. They’ll be successful, spending a lot of money, paying taxes, and creating a lot of jobs.”

Trump clarified that Gold Card holders would not be taxed on income earned outside the United States but would be subject to full taxation on domestic earnings. “You’re getting big taxpayers and big job creators,” he added.

$5 Trillion Target — Plan to Erase National Debt

Trump has set an ambitious goal of selling the Gold Card to one million investors, projecting $5 trillion in revenue.
“If we sell 10 million, that’s $50 trillion. We have $35 trillion in debt. That’d be nice, wouldn’t it?”

When a reporter asked whether Russian oligarchs — typically restricted under other citizenship-by-investment programs since the Ukraine war — would qualify, Trump did not rule out the possibility.
“I know Russian oligarchs that are very nice people,” he said, suggesting that they could be eligible if they meet the program’s requirements.

Allowing Russians to apply would not conflict with previous policies. While the Biden administration had successfully pressured Caribbean CBI programs to block Russian and Belarusian applicants two years ago, Russian nationals have continued to qualify for the EB-5 visa.

Why the Gold Card Will Replace the EB-5 Visa

The Gold Card will replace the EB-5 program — a program Commerce Secretary Howard Lutnick said is outdated and no longer effective.

“The EB-5 program had its challenges and was no longer working as intended,” Lutnick said, calling it “an easy and low-cost way” to obtain a Green Card.
“Rather than continuing with this flawed program, the president decided to replace it with the Trump Gold Card.”

However, Ishaan Khanna, President of the American Immigrant Investor Alliance (AIIA), a nonprofit political organization that advocates for EB-5 investors in Congress, disagreed with Lutnick’s assessment.

Khanna emphasized that the EB-5 program “has created tens of thousands of jobs across the United States” and cited a Government Accountability Office (GAO) report showing that “less than 1% of EB-5 petitions were found to be fraudulent in the 2021 fiscal year.”

Although Khanna disagreed with Lutnick’s remarks, he welcomed “the President’s confirmation of his long-standing support for legal immigration that benefits the US economy through job creation and investment.”

What Trump’s Gold Card Would Offer

Lutnick outlined how the new program would work, emphasizing that it would be “a direct contribution to the US government” rather than a traditional investment.

Applicants would pay $5 million directly to the US government and undergo a vetting process to ensure they meet the program’s criteria as “high-caliber global citizens.”

The funds raised through the Gold Card program would be used to reduce the national deficit.

The Gold Card could also include provisions allowing companies to sponsor applicants with exceptional talent or skills. Trump pointed to recent graduates from elite universities as an example, suggesting that companies like Apple might sponsor Gold Cards for top-tier talent.

“Generally, it’ll be people with money or people who create jobs,” Trump said.

Trump Aims to Bypass Congress

The administration framed the Gold Card as a visa program rather than direct citizenship, which Trump says falls under executive authority — allowing him to implement it without congressional approval.

When asked about this, Trump explained that while the Gold Card offers a clear path to citizenship, it does not grant citizenship outright, which would require congressional action.

“It’s a very strong path to citizenship, but we’re not directly granting citizenship — that would require Congress,” Trump said.