H-1B Visa Fee Hike Threatens US Tech Competitiveness, Prompts Job Moves Overseas
The tech industry is sounding the alarm over a significant increase in the H-1B visa fee, warning that it could undermine the USA's global competitiveness. The new price tag of $100,000 per visa, up from $4,000, is sparking concerns about the economic implications and prompting major tech companies to consider moving more jobs overseas.
In 2024, a total of 141,000 new H-1B visa applications were approved. At the new price, this would have cost firms a staggering $14.1 trillion. The tech industry is heavily reliant on skilled foreign workers to fill roles that remain understaffed domestically. However, the substantial fee hike is making it increasingly expensive for US companies to hire these workers.
Introduced during Donald Trump's administration, the controversial fee increase was intended to discourage companies from hiring foreign workers. Ironically, it may have the opposite effect. Tech giants like Meta, Google, and Oracle are now evaluating expansion plans in countries like India and Canada where hiring foreign workers is more cost-efficient and regulatory burdens are lighter. These companies have already started creating jobs mainly in these countries following the fee hikes.
The $100,000 H-1B visa fee is causing ripples in the tech industry. Critics warn that it could gut the US tech sector's global competitiveness. With major tech companies considering moving more jobs overseas, the future of the H-1B visa and its impact on the US economy remains a contentious issue.
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