Summary
President Trump announced a significant increase in the cost of H-1B visas, raising the fee to $100,000 for new applicants, which created confusion and concern among tech companies and workers. The H-1B program, which mainly benefits Indian workers in the U.S., is essential for providing skilled labor but is now facing potential interruptions. The high fee complicates hiring for new employees, since many of their salaries cannot cover the cost.
Key Facts
- President Trump announced a hike in H-1B visa costs to $100,000 for new applicants.
- This increase led to initial confusion and concern in the tech industry.
- The White House clarified that the fee applied only to new H-1B applicants.
- H-1B visas are significant for Indian workers, who make up over 70% of visa holders.
- The program has been crucial for U.S. tech companies needing skilled labor.
- In 2023, the median salary for new H-1B hires was $94,000, less than the new fee.
- The policy could cause medium to long-term labor shortages in the U.S.
