Trump says will sell 'gold' residency permits for $5 million

President Donald Trump said the United States will start selling a new type of residency permit called a "gold card" for a price of $5 million.

Soundbite: Donald Trump, US President said  "We're going to be selling a gold card. You have a green card, this is a gold card. We're going to be putting a price on that card of about $5 million and that's going to give you green card privileges, plus it's going to be a route to citizenship. And wealthy people will be coming into our country by buying this card. They'll be wealthy, and they'll be successful, and they'll be spending a lot of money and paying a lot of taxes and employing a lot of people, and we think it's going to be extremely successful."

Furthermore, Trump added that sales of the new visa, a high-price version of the traditional green card, would bring in job creators and could be used to reduce the US national deficit.