The Trump administration’s new restrictions on immigrants; the US work visa fee increased to $100,000.
The Associated Press reported that the cost of a skilled worker visa is currently $215, while the cost of an investor visa, which is common in many European countries, is $10,000 to $20,000 a year.
The H-1B visa requires at least a bachelor’s degree and is intended for highly skilled jobs needed by technology companies. Critics say it is a way to employ foreign workers, who are often willing to work for as little as $60,000, far less than the $100,000-plus salaries of domestic tech workers. Trump said the tech industry would not oppose the move.
Howard Lutnick, the U.S. Commerce secretary, said that “all the big companies” were in favor of the plan.
Lutnik said the change would likely result in far fewer H-1B visas being issued, given the annual cap of 85,000, because “it’s no longer economically viable.”
If you’re going to train, train Americans, Lutnik said in a conference call with reporters.
Trump also announced that once qualified, “golden card” visas aimed at obtaining U.S. citizenship would be sold for $1 million. The cost of sponsoring each foreign worker would also be $2 million for companies.
A “Trump Platinum Card” would also be offered for $5 million and would allow foreign nationals to spend 270 days in the United States without paying taxes on income earned abroad.
The gold and platinum cards would replace work visas, Lutnik said.