Trump's Gold Card Visa: One Approval, Many Questions

0:00On April 24th, the Trump administration's Gold Card Visa program has approved just one applicant since launching back in December. Commerce Secretary Howard Ludnick dropped that update on April 23rd during a congressional hearing. Trump called it the green card on steroids aimed at rich foreigners dropping at least $1 million for the right to live and work here, plus a, path to citizenship. Ludnic says it's still in a careful early stage, with hundreds more applications lined up in the queue. They are taking time to get the vetting right, and applicants pay an extra $15,000 for that deep check. Corporations can jump in too, shelling out $2 million per foreign worker, plus a 1% annual fee. That one approval clashes with Ludnic's past boasts of selling $1.3 billion worth right after launch, which he skipped explaining in the hearing. The program's pitch as a swap for the old EB-5 visa, where investors put in about $1 million to create at least 10 jobs.

1:01Trump floated the idea last year at a $5 million price tag originally, and now there's talk of a Trump platinum card at $5 million. 2. Giving 270 days here, stacks free on foreign income. Ludnic once dreamed it had raken $1 trillion to help fix the budget, but with public debt at $31.3 trillion, and this year's deficit around $2 trillion, it's a tall order. For now, it's a slow burn on this golden ticket, but keep watching those cues. They might just turn into a revenue river down the line. That's the story for today. Entertainment and celebrity news today, driven by AI. I'm Cory with the story.