Tyler Cowen, Columnist

A $5 Million Gold Card for Immigrants Makes Economic Sense

The US can raise a lot of revenue by selling the right to immigrate, but it should also be more open to those who can’t afford it.

February 28, 2025 at 10:30 AM UTC

By Tyler Cowen

Tyler Cowen is a Bloomberg Opinion columnist, a professor of economics at George Mason University and host of the Marginal Revolution blog.

How much is it worth?
Photographer: Michael M. Santiago/Getty Images North America

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President Donald Trump would like to offer migrants who want to work in the US a “gold card,” akin to a green card, with one significant difference: the price tag. A gold card would cost $5 million, compared to government fees of $235 for a green card.

It’s a good idea, both from the standpoint of government revenue and for wealthy prospective immigrants. But the US would have to be careful not to foreclose other, more affordable ways for people to come and work and live in the country.