Trump's 'Gold Card' Visa Struggles

Despite the low approval rate, Lutnick testified that hundreds of applicants remain in the vetting queue, which is managed by the Department of Homeland Security.

The program has faced criticism for being a 'pay-to-play' immigration scheme that favors the wealthy over traditional applicants.

Trump originally proposed a $5 million price tag for the visa before lowering it to $1 million to attract more interest.

Critics argue the lack of approvals highlights the program's failure to deliver on its promise of an immediate economic boost.