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Key Points

US Commerce Secretary Howard Lutnick has announced plans to overhaul the H-1B visa and green card systems. He revealed a proposed "gold card" program that would grant permanent residency to foreigners investing $5 million in the United States. Lutnick criticized the current H-1B program as "terrible" and in need of significant changes. The announcement comes despite Trump's recent reaffirmation of support for the H-1B program as a way to bring skilled workers to America.

Key Points: US Commerce Secy Lutnick Announces H-1B Visa Green Card Overhaul

  • New gold card offers US residency for $5 million investment
  • Lutnick calls current H-1B visa system "terrible" and in need of change
  • Program could generate $1.25 trillion from 250k interested applicants
  • Trump supports H-1B program for bringing "competent" people to US
3 min read

US to change green card: Commerce Secy Lutnick says H-1B visa system terrible

Commerce Secretary Howard Lutnick reveals plans to replace H-1B visas with "gold card" program offering residency for $5M investments, calling current system "terrible."

"I'm involved in changing the H1B visa program. We're going to change that program because that's terrible right - Howard Lutnick"

Washington, DC, August 26

United States Secretary of Commerce Howard Lutnick said that the US intends to alter the current immigration system, specifically the H1B visa program and green cards, local media reported.

According to Lutnick, the Trump administration plans to introduce a "gold card" program, which would allow wealthy foreigners to invest USD 5 million in exchange for US residency.

"I'm involved in changing the H1B visa program. We're going to change that program because that's terrible right. We're going to change the green card," Lutnick said during an Interview with Fox News.

"That's the gold card that's coming. And that's we're gonna start picking the best people to come into this country. It's time for that to change," he added.

The proposed Gold Card would offer permanent residency to foreigners who invest USD 5 million in the United States. Lutnick claims there is strong interest in the program, with 250,000 people supposedly waiting in line, and potentially generating USD 1.25 trillion in revenue.

In January 2025, Trump reaffirmed his stance to support the H-1B visa program, which allows employers in the US to hire non-immigrant workers for speciality occupations, stating that the country needs "competent" and "great" individuals to come to the US and that this can be achieved through the H-1B visa program.

While addressing the media at the White House on Tuesday (local time), Trump emphasised his belief in the importance of attracting skilled individuals to the country, citing the H-1B visa program as a key tool in facilitating this.

He further argued that allowing "quality people" to come into the US further helps in bolstering the economy by supporting various industries.

"You got to get the best people...We have to have the quality people coming in... By doing that, we're expanding businesses, and that takes care of everybody... But what I really do feel is that we have to let really competent people, great people, come into our country, and we do that through the H-1B," Trump said.

Notably, during Trump's first term, the administration imposed restrictions on H-1B visas, citing concerns over "abuse" and "economic strain." In 2016, Trump condemned the program, describing it as a means for companies to replace American workers with lower-paid foreign employees.

- ANI

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Reader Comments

P
Priya S
As someone working in tech on H-1B, this constant back and forth on visa policies is exhausting. One day they support it, next day they call it terrible. We need stability and clear immigration pathways, not political flip-flops.
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Arjun K
The $5 million gold card is ridiculous! Most Indian professionals come through hard work and education, not by buying their way in. This undermines the merit-based system they claim to support.
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Sarah B
While I understand the need for reform, calling the entire H-1B system "terrible" is an overstatement. Many talented professionals contribute significantly to the US economy. The focus should be on fixing abuse, not dismantling the program.
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Vikram M
Been in the US for 8 years on H-1B. The uncertainty is mentally draining. We pay taxes, contribute to innovation, but live with constant anxiety about visa status. They need to fix the green card backlog first before introducing new schemes.
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Michael C
The gold card concept might bring investment, but it creates two classes of immigrants - those who buy their way in and those who earn their place through skills and hard work. Not sure this is the right approach for a fair immigration system.

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