Trump announces wealthy permanent residency project with a price tag of up to $5 million, significantly increasing the cost of H-1B visas.

President Trump announced the launch of a new visa program aimed at global wealthy individuals, encouraging rich people to immigrate to the United States through the expensive permanent residency permit program. "They will spend a lot of money coming in," Trump told reporters in the Oval Office of the White House on Friday when signing the order to establish the visa program. "This will bring billions of dollars to the United States, billions and billions of dollars, which will be used for tax cuts, debt repayment, and other beneficial things." According to the website introducing the program, applicants can obtain a "Trump Gold Card" for $1 million after passing the screening and paying the relevant fees, which is priced at $5 million and allows the cardholder to stay in the United States for up to 270 days without paying taxes on their non-U.S. income within one year. Commerce Secretary Lutnick expects the plan to bring in over $100 billion in revenue for the U.S. government. Trump said that tech company executives will be "very satisfied" with the "golden visa" program because it will allow them to bring in more employees.