Donald Trump has announced a bold new initiative to sell a "gold card" to wealthy foreigners, offering them the right to live and work in the United States, along with a route to citizenship, in exchange for a $5 million fee. This initiative aims to replace the existing EB-5 immigrant investor visa program, which has long been used by foreign investors to gain residency through significant investments in U.S. projects.
The announcement has sparked considerable debate as the Trump administration continues to push its America First agenda. Commerce Secretary Howard Lutnick assured that prospective recipients of the gold card would undergo extensive vetting to ensure they are "wonderful world-class global citizens."
In a notable shake-up, the Trump administration has also scrapped nearly 1,125 federal government contracts. However, it has come to light that around 40% of these cancellations do not save the American taxpayer any money. This revelation aligns with findings from the Associated Press.
"And then, if you don’t answer, like, you’re sort of semi-fired or you’re fired, because a lot of people aren’t answering because they don’t even exist." – Donald Trump
Elon Musk's "department of government efficiency" (Doge) is spearheading efforts to identify waste, fraud, and abuse within government agencies. However, the department faces challenges as more than 20 staffers have resigned, expressing their refusal to dismantle critical public services using their expertise.
In defense-related developments, the Trump administration announced plans to increase defense spending to 2.5% of GDP by 2027, three years ahead of schedule. This increase in spending will be financed by cuts to the aid budget. The United States Agency for International Development (USAID) has been invited back to its office to retrieve personal belongings as part of efforts to shut down the foreign aid agency.
"We’re going to be selling a gold card. You have a green card. This is a gold card. We’re going to be putting a price on that card of about $5 million and that’s going to give you green card privileges, plus it’s going to be a route to citizenship. And wealthy people will be coming into our country by buying this card." – Donald Trump
In international diplomacy, Russian and U.S. delegations are set to meet in Istanbul on Thursday to discuss restoring their respective diplomatic missions. Meanwhile, Ukrainian President Volodymyr Zelenskyy is expected to visit the White House on Friday to sign a rare earth minerals deal, which will help finance U.S. military aid for Ukraine as it defends against Russia's full-scale invasion.
The Trump administration has also dismantled Power Africa, an initiative aimed at increasing electricity supply across Africa. This decision comes after more than a decade of work dedicated to improving energy access on the continent.
Concerns over domestic welfare have been raised as the administration announced plans to reduce Medicaid funding as part of its budget proposal. Critics argue that these cuts could have devastating effects on vulnerable populations.
"Children will be devastated. Families, devastated. People with disabilities, devastated. Older Americans, devastated. Hospitals, devastated. Nursing homes, devastated." – Hakeem Jeffries
The fiscal year 2025 proposal includes approximately $4.5 trillion in tax cuts and increased spending for defense and border security. This reflects the administration's commitment to prioritizing national security and economic growth.
"We have a lot of hard work ahead of us, but we are going to deliver the America First agenda." – Johnson