AILA and the U.S. Chamber of Commerce sent a letter to all Senators urging them to oppose Sen. Sanders’ H-1B amendment to the stimulus bill (H.R. 1), which would prevent U.S. employers who using TARP funds from accessing highly skilled, professional foreign talent that would allow them to stay competitive in the global marketplace.
U.S. Sens. Bernie Sanders (I-Vt.) and Chuck Grassley (R-Iowa) had proposed legislation last week to prohibit any firm that received money under the Troubled Assets Relief Program (TARP) from hiring foreign workers. The amendment passed last week, part of the stimulus plan being debated in the Senate,set a series of strict standards on H-1B hiring.
The Senate’s amendment would require companies receiving TARP funds, mostly financial services firms, to comply with hiring rules set for “H-1B dependent” firms — those with more than 15% of their workers on H-1B visas. Any firm receiving TARP funds will be automatically considered H-1B dependent, regardless of the percentage of H-1B workers on the payroll.
We will keep monitoring these developments. We feel that any restrictions imposed on the H1B program will only hurt our economy even further. To read the letter from AILA click here Download file