President Trump's "gold card" is real, and it's coming soon, Howard Lutnick said Wednesday. The commerce secretary, speaking at an Axios event in Washington DC, said foreign nationals will imminently be able to apply for a "gold card" visa for $5 million, an idea Trump first floated in February, CNN reports. "I expect there will be a website up called 'Trump card dot gov' in about a week," Lutnick said at the event. "The details of that will come soon after, but people can start to register." He said the visa will replace the current EB-5 immigrant investor visa program, in which immigrants can get a green card if they invest $1.8 million into the US (or $900,000 into economically distressed zones). Lutnick said all participants would be vetted, Fox News reports.
"Basically, everyone I meet who is not an American is going to want to buy this card if they have the fiscal capacity," Lutnick said, adding that he was "selling" cards during his recent Middle East trip. "These are going to be great people who are going to come and bring businesses and opportunity to America, and they're going to pay $5 million," he said, noting that the money could help pay down the national debt. "If there are 200,000 people who pay, that's a trillion dollars. That pays for everything." The national debt is currently $36 trillion. Experts have raised concerns that Congress must approve the creation of any new visa programs. (More President Trump stories.)