H1-B Visa Changes in Economic Stimulus Bill

Among the various elements in the recent economic recovery bill signed into law by President Obama was a provision aimed at financial institutions that employ foreign workers through H1-B visas. An amendment proposed by Senator Bernard Sanders (I-VT) and Senator Charles Grassley (R-IA) prohibits financial institutions that receive stimulus funding from hiring H1-B visa holders with a few limited exceptions.

According to BAL Global Corporate Immigration, this is a two-year restriction for participants in the TARP and CAP programs, which would not affect extending the stays of current H-1B visa holders looking to remain with their same employer. However, many questions remain regarding the implementation of this new law.

Some proponents of H1-B visas and comprehensive immigration reform are concerned that this provision may signal a new attitude in Congress that may result in future restrictions for H1-B and other types of visas.

Immigration issues continue to be a concern for DFW businesses, foreign governments and academic institutions as they engage talent from around the world to remain competitive in an increasingly global economy. The Dallas Regional Chamber has historically supported national employer-based immigration policies, and we support immigration reform which will give employers access to a legal workforce to meet legitimate business needs in all sectors of the economy. In the absence of a comprehensive legislative solution, the Chamber supports interim relief issues, such as visa recapture and a temporary increase in the number of H-1B visas available. The filing deadline for H1-B visas in 2009 is April 1, 2009.

For more information on the Chamber's international legislative affairs, contact Jane Edson at
(214) 712-1937 or jedson@dallaschamber.org.