The United States Will Now Charge $ 100,000 per year for an H-1B Work Visa. Many International Workers in the Tech Industry use this Visa. Opponents Fear That the US Will Miss Out on Talent As A Result.
By Making the Visa So Expective, The Administration of US President Donald Trump Wants To Encourage Companies to Hire More Americans. The Visa Previously Cost Only a Few Hundred Dollars.
“If you’re going to train anyone, train one of the recent graduates from the best universities in our country,” Said Commerce Secretary Howard Lutnick. “Stop Bringing in People to Steal Our Jobs.”
Each year, the US raffles off about 85,000 H-1B work visas. Three-quarters go to indians, and many Chinese also use them. A Large Number of Them End Up Tech Companies in Silicon Valley.
In Addition to the Price Increase, Trump also introduced a so-called ‘Trump Gold Card’ On Friday. This Allows Foreigners to Buy A US Residency Permit For One Million Dollars. Later, A ‘Trump Platinum Card’ Will Follow for 5 Million Dollars, which Will Provide Tax Benefits.
Opponents Fear That the US Will Miss Out on Talent with the High Costs. Among Others, Tesla Boss Elon Musk, Who PreviOutly advised Trump, Strongly Opposes The Expensive Visa. Accordance to Him, American Companies Need Talented Employees From Abroad, and Their Arrival Leads to More Competition. Musk, Who Comes from South Africa, Once Used An H-1B Work Visa himself.