'There's no way we can afford $100,000': Small firms scramble over H-1B visa fees
Summary
The U.S. government has introduced a $100,000 fee for new H-1B visa applications, which allow skilled workers from abroad to work in the U.S. This change could significantly affect small companies and startups that rely on H-1B workers but may not afford the high fees. Large tech firms and other industries using skilled foreign workers could also face challenges.Key Facts
- The U.S. introduced a $100,000 fee for new H-1B visa applications.
- The fee affects future applicants and does not apply to current visa holders.
- The H-1B visa program is used for hiring skilled foreign workers.
- Small businesses and startups may struggle to pay the new fee.
- Major tech companies like Amazon, Google, and Microsoft use many H-1B visas.
- The fee could impact economic growth and innovation in the U.S.
- Some industries like healthcare and education also rely on H-1B visas and may face workforce shortages.
- An economist lowered U.S. growth estimates due to the new visa fees, indicating potential economic impact.
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