‘Golden Ticket’ Visas for Investors Need Overhaul, Lawmakers Say
- Program allows legal residence in U.S. for creating jobs
- Lawmakers raise alarm over fraud, national security threats
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A visa program that offers wealthy foreigners legal residence in the U.S. if they invest in projects that create jobs needs to be overhauled or eliminated because of concern over fraud and threats to national security, senators from both parties said in a rare moment of bipartisanship.
Judiciary Committee Chairman Chuck Grassley of Iowa was joined by Democrats and other Republicans at a hearing Tuesday in faulting a program known as a “golden ticket” that allows foreigners to reside in the U.S. if they invest at least $500,000 and create at least 10 jobs.