United States Commerce Secretary Howard Lutnick stated that the United States' immigration framework—particularly the H-1B visa and green card system—is likely to see major changes in coming days. Lutnick described the current H-1B visa program as a "scam" that displaces American workers.
Talking to Fox News, Lutnick said: "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 elaborated on how the new ‘gold card’ - a Donald Trump initiative - will be a great option for wealthy foreign nationals who wants US residency. He argued that under Donald Trump’s leadership, immigration policy will shift toward attracting wealth and skill. "That’s why Donald Trump is going to change it – that’s where the Gold Card is coming, and with that we’re going to start picking the best people."
He further cited the above reason for the changes being brought to the immigration system, while saying that a ‘gold card’ would be introduced. “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,” the commerce secretary said.
Questioning the efficacy of providing green card, he asked: “We give green cards. The average American makes $75,000 a year, and the average green card recipient $66,000. So we're taking the bottom quartile. Why are we doing that?”
Under the ‘gold card’ proposed by the Trump administration, foreigners who invest $5 million in the US would be offered permanent residency in the country. Lutnick has claimed that there is already a strong interest the proposed program, and that 250,000 people are in queue. He has further said that the program will generate $1.25 trillion in revenue for the US.
The remarks come even as President Trump has reaffirmed support for the H-1B programme itself, calling it essential for bringing "competent" and "great" individuals to the US. In January, Trump told reporters, "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."
Any major overhaul in visa system would have major implications for Indian professionals. In fiscal year 2023, more than 72% of approved H-1B petitions were for Indian nationals, far outpacing China at 11.7%. The cap for H-1B visas currently stands at 65,000, plus 20,000 slots reserved for US advanced-degree holders.
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