Trump Administration Imposes $100,000-Per-Year Fee for H-1B Visas
In a move that could have far-reaching implications for the tech industry, President Donald Trump signed an executive order on [date] adding a $100,000-per-year fee to H-1B visa applications. According to The New York Times, companies will be required to pay this fee annually for up to six years for each employee brought over to the US on the visa.
The new requirement, which applies only to new visa applicants, is set to take effect immediately. However, a White House official told The Times that case-by-case exemptions may be granted if deemed in the national interest. The Secretary of Homeland Security will restrict approval for visa applications of individuals currently outside the United States unless accompanied by the fee.
This development has sparked concerns among tech industry leaders, who rely heavily on H-1B visas to bring skilled workers into the country. Amazon, Microsoft, Meta, Apple, and Google are among the top employers that have used the program in recent years, with over 10,000 employees on H-1B visas.
"This is a devastating blow to our industry," said an anonymous tech executive. "The cost of hiring foreign talent will skyrocket, making it even more challenging for us to compete globally."
The H-1B visa program allows US companies to hire highly skilled workers from abroad in fields such as technology, engineering, and healthcare. According to the US Citizen and Immigration Services, over 85% of H-1B visas are granted to tech industry employers.
"This is a clear attempt by the administration to restrict immigration and favor American-born workers," said an immigration expert not affiliated with any company. "However, it's likely that this rule will face significant legal challenges."
The new requirement could have far-reaching implications for companies like Amazon, which has over 10,000 employees on H-1B visas. The company's spokesperson declined to comment on the matter.
As the tech industry grapples with the potential consequences of this new policy, experts warn that it may lead to a brain drain and stifle innovation in the US.
"This is a short-sighted decision that will ultimately harm American competitiveness," said an economist specializing in immigration. "We need to attract the best talent from around the world to drive economic growth and innovation."
The Trump administration's move has sparked widespread criticism, with many calling it a thinly veiled attempt to restrict immigration. As the debate continues, one thing is clear: this new policy will have significant implications for the tech industry and beyond.
Background: The H-1B visa program was established in 1990 to allow US companies to hire highly skilled foreign workers in fields such as technology, engineering, and healthcare. Each year, the US government allocates a limited number of visas, with the majority going to tech industry employers.
Current Status: The new requirement is set to take effect immediately, but it's likely that this rule will face significant legal challenges. Companies are bracing for the potential consequences, which could include increased costs and reduced competitiveness.
Next Developments: As the debate continues, experts warn that the long-term implications of this policy may be far-reaching. The tech industry is expected to push back against the new requirement, while immigration advocates will likely challenge it in court.
*Reporting by Engadget.*
