President Donald Trump on Friday signed an executive order that will require a new annual $100,000 fee for H-1B visa applications, among other changes to the program for highly skilled foreign workers.
One of the biggest problems we have is that people — they go to the best schools and they do great and they get great marks, and then they get thrown out of the country. You’re not allowed to stay,” Trump said during a news conference from the Oval Office on Friday.
It’s sort of like a signing bonus in baseball or football. A corporation will be able to get them to stay in the country. I think it’s going to be tremendously successful,” he added.
H-1B visas, which require at least a bachelor’s degree, are meant to bring the best and brightest foreigners for high-skilled jobs that tech companies find difficult to fill with qualified U.S. citizens and permanent residents. The program instead has turned into a pipeline for overseas workers who are often willing to work for as little as $60,000 annually. That is far less than $100,000-plus salaries typically paid to U.S. technology workers.
Commerce Secretary Howard Lutnick said the employment-based ” ” program let in 281,000 people a year. He said they earned an average of $66,000 a year, noting that they are five times more likely to need financial assistance programs from the government.
Instead of people trying to take the jobs from Americans, they are going to create businesses and create jobs for Americans,” Lutnick said, adding that the program will raise more than $100 billions for the U.S.
Trump said the funds will be used to cut taxes and paying down debt.
We think it’s going to be very successful,” the president said. “Essentially, we’re having people come in — people that in many cases, I guess, are very successful or whatever — and they’re coming in and they’re going to spend a lot of money to come in. They are going to pay, as opposed to walking over the borders. They may comes from jails, prisons and everything else — these people don’t. They are very productive people and they are going to pay $1 million. A corporation is going to pay $2 million and it’s going to raise billions of dollars — billions and billions of dollars.”
Trump also rolled out a $1 million “ ” visa as a pathway to U.S. citizenship for wealthy individuals. For companies, it will cost $2 million to sponsor an employee.
For a processing fee and, after DHS vetting, a $1 million contribution, receive U.S. residency in record time with the Trump Gold Card,” according to the White House.
The “Trump Platinum Card” will be available for a $5 million contribution and allow foreigners to spend up to 270 days in the U.S. without being subject to U.S. taxes on non-U.S. income.
Trump announced a $5 million gold card in February to replace an existing investor visa — this is now the platinum card.
In a social media post, Lutnick said open-border Democrats “endlessly flooded the country” for the last four years with illegal immigrants at the expense of hard-working Americans.
The Trump administration is completely reversing course on that disastrous agenda,” he wrote on X. “These programs guarantee that recipients who come to work in America must provide significant benefit to our great country. We are ending workers taking jobs away from hard working Americans and taking advantage of our economy and providing nothing in return. The Trump Card begins to restore our immigration system to its intended purpose: significantly benefitting America.”
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