President Donald Trump on Friday rolled out a version of his administration’s long-promised gold card, a $1 million fast-track for wealthy foreigners to live and work in the United States. Commerce Secretary Howard Lutnick, in a call later with reporters, said the gold card will replace the current EB-1 and EB-2 visa programs for people who are of “exceptional value” to the United States. He said the administration expects to initially make 80,000 gold cards available but will continue to evaluate the model and could eventually phase out other visas.
00:00So the whole idea is no more will these big tech companies or other big companies train foreign workers.
00:08They have to pay the government $100,000, then they have to pay the employee.
00:12And they're coming in, they're going to spend a lot of money to come in.
00:15They're going to pay as opposed to walking over the borders, and they may come from jails, prisons, and everything else.
00:21These people don't.
00:22Thank you, Mr. President.
00:23One of the most abused visa systems in our current immigration system has been the H-1B non-immigrant visa program.
00:30This is supposed to allow highly skilled laborers who work in fields that Americans don't work in to come into the United States of America.
00:39What this proclamation will do is raise the fee that companies pay to sponsor H-1B applicants to $100,000.
00:48This will ensure that the people they're bringing in are actually very highly skilled.
00:53And that they're not replaceable by American workers.
00:55So it'll protect American workers, but ensure that companies have a pathway to hire truly extraordinary people and bring them to the United States to work.
01:03We need workers.
01:04We need workers.
01:05We need great workers.
01:06And this pretty much ensures that that's what's going to happen.
01:09I think, Sean, do you agree with that?
01:11Well, they're $100,000 per year.
01:14So the whole idea is no more will these big tech companies or other big companies train foreign workers.
01:23They have to pay the government $100,000.
01:25Then they have to pay the employee.
01:27So it's just not economic.
01:29If you're going to train somebody, you're going to train one of the recent graduates from one of the great universities across our land, train Americans, stop bringing in people to take our jobs.
01:41That's the policy here.
01:43$100,000 a year for H-1B visas.
01:46And all of the big companies are on board.
01:50We've spoken to them about the gold card.
01:51They love it.
01:52They love it.
01:52They really love it.
01:53They need it.
01:54So historically, the employment-based green card program led in 281,000 people a year.
02:05And those people, on average, earned $66,000 a year on average.
02:12And they were five times more likely to go on assistance programs of the government.
02:17So we were taking in the bottom quartile below the average American.
02:24It was illogical.
02:25The only country in the world that was taking in the bottom quartile.
02:30So what we are doing now is we are going to stop doing that.
02:34We're going to only take extraordinary people at the very top.
02:37Instead of people trying to take the jobs from Americans, they're going to create businesses and create jobs for Americans.
02:45And this program will raise more than $100 billion for the Treasury of the United States of America.
02:52Which we'll use for cutting taxes and paying down debt.
02:56We think it's going to be very successful.
02:57Essentially, we're having people come in, people that in many cases, I guess, are very successful or whatever.
03:07And they're coming in.
03:08They're going to spend a lot of money to come in.
03:10They're going to pay as opposed to walking over the borders.
03:12And they may come from jails, prisons, and everything else.
03:16These people don't.
03:17They're very productive people.
03:19And they're going to pay a million dollars.
03:20The corporation is going to pay $2 million.
03:23And it's going to raise billions of dollars.
03:26Billions and billions of dollars.
03:27Which is going to go to reduce taxes, pay off debt, and other good things.
03:32Subscribe to OneIndia and never miss an update.
Be the first to comment