During his Cabinet meeting Wednesday, President Donald Trump emphasized his idea of offering a “gold card” visa with a pathway to citizenship. It would cost $5 million and would replace a 35-year-old visa for investors.

Alex Nowrasteh, Cato’s vice president for economic and social policy studies, proposed a version of this idea in a policy analysis in 2019. You can read his analysis here. Nowrasteh recommends charging a lower price and not removing the investors visa.

If you would like to speak with Nowrasteh about this, please reach out to mmiller@​cato.​org.