Washington, D.C.: U.S. Secretary of Commerce Howard Lutnick has announced plans to overhaul the country’s immigration system, with major changes proposed to the H-1B visa program and green cards, local media reported.
Mr. Lutnick said the Trump administration is preparing to launch a new “Gold Card” initiative that would grant permanent residency to wealthy foreigners who invest $5 million in the United States. “I’m involved in changing the H-1B visa program. We’re going to change that because it’s terrible. We’re also going to change the green card. That’s the gold card that’s coming. It’s time for that to change,” he said in an interview with Fox News.
The Gold Card program, according to Mr. Lutnick, has already generated interest, with an estimated 2,50,000 people waiting to participate—potentially bringing in $1.25 trillion in revenue.
Despite these changes, Mr. Trump has reiterated support for the H-1B visa system, which allows U.S. employers to hire foreign professionals in specialized fields. Speaking at the White House on Tuesday, August 26, 2025, he stressed the need to attract “competent” and “great” individuals to strengthen the U.S. economy. “You have to get the best people… really competent people, great people… and we do that through the H-1B,” Mr. Trump said.
Notably, during his first term, the Trump administration restricted the H-1B program, arguing it was being misused to replace American workers with lower-paid foreign employees. In 2016, Mr. Trump had sharply criticized the program, calling it a tool for companies to undercut U.S. labor.
