U.S. Commerce Secretary Howard Lutnick stated at a congressional hearing that President Trump's "Gold Card" visa program has only approved one applicant so far. This program is seen as a new alternative to the traditional EB-5 immigrant investor program, allowing companies to pay $2 million to sponsor foreign employees, along with a 1% annual maintenance fee. It allows foreigners to pay at least $1 million to legally reside and work in the U.S., with a path to eventual citizenship. Lutnick previously stated that the program sold $1.3 billion worth of visas within days of its launch and is projected to generate $1 trillion in revenue to help alleviate the U.S. fiscal deficit. Although only one person has been officially approved so far, Lutnick said hundreds more applications are currently under review. (Fortune)