During my time in the White House under the Trump administration, I witnessed firsthand how Trump’s America first policies focused on combating illegal immigration while building a merit-based immigration system that rewards skills and discourages chaos. Illegal immigration has proven disastrous for our country and placed a significant strain on our communities, our schools, and our healthcare system.
Trump understands that it is critical to implement an immigration system that benefits Americans, strengthens the U.S. economy, and creates American jobs. To do this, we must incentivize legal immigrants who uphold American values while bringing value to our country.
The president recently announced a “Gold Card” program that unlocks a path to permanent residency for foreign investors if they commit at least $5 million to the United States for debt reduction. What many do not know is that the president’s Gold Card program builds upon a successful preexisting EB-5 visa program. The Gold Card is a commonsense extension of the EB-5 program, which has consistently demonstrated its effectiveness in creating jobs and investment in high-unemployment areas and underserved communities for over 30 years.
The EB-5 Immigrant Investor Visa is an inherently America first immigration policy because it brings investors into our nation, creates jobs for American workers, and bolsters local economies. Additionally, every applicant, and his or her source of funding, is extensively vetted by the U.S. Department of Homeland Security and other national security, law enforcement, and intelligence agencies.
EB-5 visa investors provide critical funding for new commercial enterprises in the United States. Beyond the actual investment, immigrants who participate in the EB-5 program must create and preserve at least 10 American jobs per investor. The EB-5 visa program created 1.7 million jobs from 2016-2019. This is an average of 45 jobs per EB-5 investor, even though they are only required to create 10.
The U.S. needs immigrants who are willing to serve the common good of Americans. The high investment threshold as well as strict adherence to regulatory oversight for the EB-5 visa program ensures immigrants are thoroughly vetted and putting America first. The vetting process requires comprehensive documentation, due diligence, and anti-fraud provisions.
The EB-5 visa’s strict compliance standards contrast with other visa programs such as H-1Bs. While American workers are forced to compete for high skilled jobs with other visa categories, EB-5 immigrants do not take away jobs from U.S. workers. They do just the opposite: They create new American jobs for Americans.
The EB-5 program has catalyzed critical American infrastructure investments in projects such as real estate developments, reshoring critical manufacturing, and other business ventures that create jobs and stimulate economic growth. Notable examples include the Big River Steel factory in Osceola, Arkansas; Jefferson Energy Terminal in Vidor and Nederland, Texas; and the John R. Oishei Children’s Hospital in Buffalo, New York. All these developments align with Trump’s plan to stop relying on foreign enterprise, reshore American industry, and reduce unemployment.
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The Big River Steel factory is especially relevant given Trump’s recent imposition of 50% tariffs on all steel imports. The Big River Steel factory not only reshores American industry, but it also created over 16,000 jobs and garnered over $2.4 billion of total investment, including $160 million from EB-5 investors. These statistics prove that EB-5 investors are a huge boost to the American economy.
No other immigration program effectively encourages this high-level investment in America while at the same time protecting American jobs. EB-5 is the gold standard in supporting the right kind of immigration. As the president moves forward with his Gold Card, it is important to build on the model and success of EB-5.
Mercedes Viana Schlapp is a senior fellow for the Conservative Political Action Coalition. She previously served as senior adviser for strategic communication for President Donald Trump at the White House and his 2020 presidential campaign.
