President Donald Trump has proposed a new “Trump gold card” program that would provide foreign investors who put up at least $5 million with U.S. residency and a path to citizenship — but the plan is drawing flak from immigration experts.

Trump announced a new program to lure wealthy and highly-skilled professionals to the U.S. But experts say Congress – not the president – holds the authority to make that move.

Commerce Secretary Howard Lutnick said Trump's initiative would replace the EB-5 program, which offers U.S. visas to investors.