Commerce Secretary Howard Lutnick said Wednesday that a website touting President Donald Trump’s "gold card" initiative that would allow people to buy U.S. permanent residency for $5 million will soon launch.
Lutnick said at the Axios Building the Future event in Washington, D.C., that the website, trumpcard.gov, will initially allow people to register their interest in buying one of the cards.
"All that will come over a matter of the next weeks — not month, weeks," he said, Axios reported.
Trump in February announced the "gold card" initiative as a visa program for high-income foreign investors who want to move to the U.S. It's designed to replace the EB-5 visa. During the first Cabinet meeting of his second term, Trump suggested revenue generated from the program could be used to pay off the country’s debt.
"If we sell a million, that’s $5 trillion," he said.
Lutnick echoed the president’s sentiments at the Axios event.
"Everyone I meet who's not an American is going to want to buy the card if they have the fiscal capacity," he said. "This is for people who can help America pay off its debt."
Newsweek reported earlier this month that Lutnick previously claimed the program had 250,000 applicants. The card carries additional benefits, such as exempting the holder from paying U.S. taxes on their overseas income.
Elon Musk, former head of the Department of Government Efficiency, also said earlier this month that a "quiet trial" run of the gold card visa program was rolling out.
"We're doing a quiet trial to make sure the system works properly," Musk wrote May 11 in a post on X, which he owns. "Once it is fully tested, it will be rolled out to the public with an announcement by the President."