Donald Trump on Friday signed a proclamation that will require a new annual $100,000 fee for H-1B visa applications, among other changes to the program for highly skilled foreign workers that has come under scrutiny by the administration.
Commerce Secretary Howard Lutnick said the fee will be $100,000 per year and added that “all big companies” are on board.
H-1B visas are meant to bring the best and brightest foreigners for high-skilled jobs that tech companies find difficult to fill with qualified U.S. citizens and permanent residents. The program instead has turned into a pipeline for overseas workers who are often willing to work for as little as $60,000 annually. That is far less than $100,000-plus salaries typically paid to U.S. technology workers.
The fact that the employers are on board with the plan definitely makes me suspicious. Maybe they made the 100k tax deductable so it doesn't actually cost them anything or something like that?
It feels like some initiatives are shifting income from the treasury straight into the executive branch (same as the tariffs), so maybe this is just a way of shifting money from one branch to another.