President Donald Trump signed two executive orders Friday aimed at raising billions of dollars through high visa fees for companies seeking to hire high-skilled foreign workers and for wealthy foreigners.

One of the orders creates a new visa category for people willing to pay $1 million to enter the U.S., or whose employers are willing to pay the U.S $2 million to sponsor them. While signing the order in the Oval Office on Friday, Trump dubbed the new visa the "Trump Gold Card."

"This program will raise more than $100 billion, which we'll use for cutting taxes and paying down debt," Trump said. "They're going to spend a lot of money to come in."

A senior administration official who spoke on condition of anonymity later told reporters that the administration is also working on a so-cal

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