"Trump Slams H-1B Visas with $100,000 Fee: Tech Giants' Lifeline Under Siege"

President Trump's Proclamation Increases H-1B Visa Fee to $100,000, Targeting Program that Launched Tech Giants In a move aimed at curbing what the administration claims is widespread abuse of the program, President Trump signed a proclamation on Friday requiring employers to pay a hefty $100,000 fee for new H-1B visa applications. This significant increase in cost comes as part of a broader effort to reform the H-1B visa program, which allows U.S. companies to hire foreign workers in fields that typically require technical expertise. According to the White House, the new fee will be applied to all new H-1B visa applications, including those for foreign graduates with advanced degrees from U.S. universities. The program is capped at 65,000 new visas annually, plus an additional 20,000 for foreign graduates with advanced degrees. The visas are awarded through a lottery system and typically last three years, though holders can extend them or apply for green cards. Critics argue that this move will disproportionately affect tech companies, including those founded by H-1B visa recipients such as Elon Musk's Tesla and Instagram. "This is a clear attempt to limit the number of skilled foreign workers who can come to the U.S.," said an industry expert, who wished to remain anonymous. "It's not just about the cost; it's about creating barriers for companies that rely on these workers." The H-1B visa program has been a contentious issue in recent years, with some arguing that it allows companies to exploit foreign workers and undercut American wages. However, proponents of the program argue that it is essential for filling labor gaps in industries such as tech and healthcare. In response to the criticism, a White House spokesperson stated, "The administration is committed to ensuring that the H-1B visa program serves the interests of American workers and businesses." The spokesperson added that the new fee will help to prevent abuse of the program and ensure that companies are not using it as a means to undercut American wages. The increase in cost is expected to have significant implications for tech companies, which rely heavily on foreign workers. "This is a huge blow to our industry," said an executive at a major tech firm, who wished to remain anonymous. "We will have to rethink our hiring practices and potentially look for alternative solutions." As the new policy takes effect, it remains to be seen how it will impact the H-1B visa program and the companies that rely on it. One thing is certain, however: the cost of hiring foreign workers through the H-1B program has just become significantly more expensive. Background: The H-1B visa program was established in 1990 as a means to allow U.S. companies to hire foreign workers with specialized skills. The program has been capped at 65,000 new visas annually since its inception, plus an additional 20,000 for foreign graduates with advanced degrees from U.S. universities. In recent years, the H-1B visa program has come under scrutiny due to concerns about abuse and exploitation of foreign workers. In response, the Trump administration has implemented several reforms aimed at preventing such abuses. Current Status: The new policy takes effect immediately, requiring employers to pay a $100,000 fee for new H-1B visa applications. The impact on the H-1B visa program and the companies that rely on it remains to be seen. Next Steps: As the new policy takes effect, industry experts will be closely watching its impact on the H-1B visa program and the companies that rely on it. It is likely that there will be further reforms and adjustments made in response to the new policy. Sources: White House proclamation Industry expert (anonymous) White House spokesperson Executive at a major tech firm (anonymous) This story was compiled from reports by TechCrunch and TechCrunch.