Svmuu News: US Commerce Secretary Howard Lutnick stated during a congressional hearing that President Trump's "Gold Card" visa program has only approved one applicant to date. The program is seen as a replacement for the traditional EB-5 immigrant investor program. It allows foreigners to legally live and work in the US by paying at least $1 million, with a path to citizenship. Additionally, companies can pay $2 million per foreign employee, along with a 1% annual maintenance fee.
Howard Lutnick previously claimed that the program had sold $1.3 billion worth of slots within days of its launch and anticipated it could generate $1 trillion in revenue to help alleviate the US fiscal deficit. Although only one person has been officially approved so far, Lutnick stated that hundreds of other applicants are still under review. (Fortune)