Overview
- Commerce Secretary Howard Lutnick, who testified Thursday to a House subcommittee, said only one applicant has been approved and hundreds of cases remain under review.
- The program offers wealthy foreign applicants a fast path to live in the U.S. in exchange for large payments, starting with a $1 million individual option and a non‑refundable $15,000 fee.
- Officials say the process was designed with the Department of Homeland Security and uses what Lutnick called the most rigorous background checks in government history.
- The administration has not named the approved person or detailed how proceeds will be used, beyond saying funds support national improvement and could help reduce federal debt.
- The slow pace contrasts with launch promises of quick decisions and reported early sales, drawing scrutiny common to “golden visa” schemes that face transparency and ethics concerns in other countries.