Donald Trump's much-touted plan to sell $5 million "gold card" visas to the ultra-wealthy may never leave the runway, immigration lawyers and policy analysts say.
What Happened: The proposal would create a brand-new residency class for investors willing to wire in billions, but experts note a president cannot invent a visa on his own, according to a report by The Washington Post. Only Congress can add categories to the Immigration and Nationality Act.
Since February, Trump has waved a laminated prototype at reporters, promised an "immediate rollout," and opened a TrumpCard.gov wait list that Commerce Secretary Howard Lutnick says has attracted nearly 70,000 names. The White House claims the fees could wipe out the $1.3 trillion annual deficit and, eventually, the entire national debt.
But no bill has surfaced on Capitol Hill, and Republican leaders who are already skeptical of expanded immigration paths show "zero appetite" for the idea, said Alex Nowrasteh of the Cato Institute.
Why It Matters: Supreme Court precedent gives Congress "plenary power" over visas, former DHS counsel George Fishman noted. "I'm very dubious it can be done without an act of Congress."
Critics also warn of lawsuits from would-be EB-5 investors, who now wait years after putting in at least $800,000. Former USCIS adviser Doug Rand said opponents will almost certainly challenge any fast-lane plan for newcomers and almost certainly defeat it.
Billionaire Trump donor John Paulson originally proposed the concept as a debt reduction mechanism for America's $36 trillion burden. The program represents a significant shift in targeting high-net-worth individuals. Billionaire Mark Cuban previously supported the concept provided corporations buy cards for high-earning employees, while Elon Musk was involved in developing the application software.
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