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00:00Ike, I mean, this is a major change. The president signing a proclamation that now requires this $100,000 annual fee for this H-1B visa for highly skilled foreign workers.
00:17Now, this could be a huge blow to big tech firms that rely heavily on highly skilled foreign workers to fill key roles. And the Trump administration is arguing that this is going to crack down on a system that companies use to avoid hiring American citizens and to undercut wages.
00:39But supporters of this program say that it is absolutely critical to fill these highly skilled roles that are essential for filling talent gaps, for roles that they can't necessarily find here in the U.S., and for keeping these companies competitive.
00:55Critics of what the administration is doing here are also warning that this could reduce America's ability to attract the best talent, innovate, and to grow the economy.
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01:13A new $100,000 fee on skilled worker visas, H-1B, in the United States will take effect from Sunday. It will be imposed with every application. However, this fee does not apply to those who already hold a valid visa.
01:28The White House announced this information regarding the H-1B visa yesterday, Saturday.
01:38In a post on the social media platform xYesterday, White House spokesperson Carolyn Levitt said,
01:44This is not an annual fee. It's a one-time fee, which only applies to visa applications.
01:49The spokesperson also said that H-1B visa holders who are currently outside the United States do not have to pay this $100,000 fee to re-enter the country.
02:02Following the Trump administration's announcement on Friday to impose the visa fee, several large companies including Microsoft, JP Morgan, and Amazon have advised their H-1B visa holding employees to remain inside the United States through internal emails.
02:17The news agency Reuters has reviewed several such emails.
02:23An internal note from Goldman Sachs has come into Reuters' possession. In that note, given yesterday, employees were warned that such visa holders should exercise caution when traveling internationally.
02:35However, in a post on xYesterday, Levitt said that H-1B visa holders can still leave and re-enter the United States as they normally would.
02:47The new fee will only apply to the lottery phase of the next H-1B visa application.
02:54This fee is not applicable for current visa holders or for visa renewals.
02:59The White House has said that this fee is being imposed to ensure a level-playing field for American workers.
03:06According to them, lower-wage foreign workers are being hired in place of American workers.
03:11The Indian IT industry organization NASCOM, while reacting yesterday morning, said that the new fee on H-1B visa applications imposed by President Donald Trump through an executive order on Friday night could disrupt the global operations of Indian technology service companies that send skilled professionals to the United States.
03:32The note also said that the presence of H-1B visa-holding IT workers in the United States has increased from 32 percent in fiscal year 2003 to 65 percent in recent years.
03:46The White House has instructed the Department of Labor and Homeland Security to jointly issue guidelines on verifying visa-related matters, enforcing regulations, auditing, and imposing disciplinary measures.
03:59Additionally, the Labor Secretary has been asked to reconsider the proposed wage levels in the H-1B program and to begin formulating rules to prioritize highly skilled, high-wage H-1B workers.
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