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Pres­i­dent Don­ald Trump said Tues­day that he plans to of­fer a “gold card” visa with a path to cit­i­zen­ship for $5 mil­lion, re­plac­ing a 35-year-old visa for in­vestors.

“They’ll be wealthy and they’ll be suc­cess­ful, and they’ll be spend­ing a lot of mon­ey and pay­ing a lot of tax­es and em­ploy­ing a lot of peo­ple, and we think it’s go­ing to be ex­treme­ly suc­cess­ful,” Trump said in the Oval Of­fice.

Com­merce Sec­re­tary Howard Lut­nick said the “Trump Gold Card” would re­place EB-5 visas in two weeks. EB-5s were cre­at­ed by Con­gress in 1990 to gen­er­ate for­eign in­vest­ment and are avail­able to peo­ple who spend about $1 mil­lion on a com­pa­ny that em­ploys at least 10 peo­ple.