Trump's $100K H-1B Fee Slows U.S. Tech Innovation
President Trump's executive order has introduced a $100,000 fee for new H-1B visa applications, sparking concerns about its impact on U.S. tech innovation and productivity. Critics warn that the slowdown could lead to 5,500 fewer news applications each month, with Indian workers, who account for 70% of H-1B visas, being most affected.
The new fee, aimed at prioritizing American workers, has caused uncertainty among travelers and professionals. Large consulting firms, which heavily rely on the H-1B program, are likely to be significantly impacted. In 2023, nearly half of the top 50 H-1B recipients were consulting firms. Tech giants like Amazon, Google, Microsoft, and Infosys, which often receive thousands of H-1B approvals annually, are also likely to be affected.
Overseas H-1B petitions, numbering around 65,000 in fiscal year 2024, are expected to be most affected by the new rules. The change may also deter foreign students from studying in the U.S. due to reduced post-graduation job opportunities.
The $100,000 fee for new H-1B visa applications could result in a significant reduction in news applications, impacting both U.S. tech companies and foreign workers. The long-term effects on U.S. innovation, productivity, and international student enrollment remain to be seen.
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