‘Green card holder makes…’: US Commerce secretary claims immigrants earn a third less than Americans as Trump launches ‘golden card’ program – The Times of India

US President Donald Trump unveiled a new $1 million “gold card” immigration program, with his administration arguing that America should stop admitting “below average” immigrants and instead prioritize high-earning, highly educated applicants.Announcing the program at the White House, Commerce Secretary Howard Lutnick claimed the existing system is bringing in immigrants who earn far less than U.S.-born workers. “The average Green Card holder in America makes 1/3 less than the average American. We should be bringing in the best and brightest – and that’s what POTUS is changing about our immigration system,” he said.Trump revealed that applications for the new gold card had been opened through a government website. The scheme provides legal residency and a path to citizenship for individuals who pay $1 million and for companies willing to pay $2 million per foreign worker. He said all revenue “would go to the U.S. government” and predicted the program would bring billions into a Treasury account “where we can do things positively for the country.””The US president described the card as a more powerful version of a green card. “Basically it’s a green card, but much better. Much more powerful, a much stronger path,” he said, adding that he wanted to help US companies retain “outstanding graduates” from top US universities who are currently struggling to stay in the country after completing their studies. “You can’t hire people from the best colleges because you don’t know whether or not you can keep that person,” he said.The Gold Card is designed to replace the EB-5 visa program, which was created in 1990 and required about $1 million in investments and the creation of at least 10 jobs. Trump did not address job creation requirements or program limits. Lutnick said each applicant would pay $15,000 for vetting, and promised a rigorous background check to “make sure these people are absolutely eligible to be in America.”He added that Trump wanted to shift the system away from “below average” participants. “So the same visas, but now full of the best people,” he said.More than twenty countries offer similar investor visas. Trump said the United States would now compete for top global talent, with graduates from China, India and France. “The companies will be very happy,” he said.