Trump warns H-1B holders to return immediately or risk being stranded
New Delhi (The Uttam Hindu): American tech firms like Microsoft have advised their employees holding H-1B visas who are currently outside the US to return immediately, ahead of the September 21 deadline set by US President Donald Trump for imposing a $100,000 fee on H-1B visas.
The US administration has imposed an annual fee of $100,000 on all visas. The US President stated that this new rule will take effect on September 21st and will last for 12 months. According to reports, companies like Microsoft and JPMorgan have instructed their H-1B visa employees in the US to remain working in the country for the foreseeable future and refrain from international travel until further instructions are received.
Microsoft has also reportedly advised H-4 visa holders to remain in the US. The company said, "We advise H-1B and H-4 visa holders to return to the US before tomorrow's deadline." There has been no official statement from Microsoft or JP Morgan yet. US President Trump hopes that this new visa program will generate more than $100 billion for the US treasury, which will be used to reduce the national debt and cut taxes. However, critics say that the new fees will hinder talent movement and reduce innovation.
According to reports, about 71 percent of H-1B visa holders are from India, working primarily in technology companies such as Infosys, Wipro, Cognizant, and Tata Consultancy Services. Shares of major IT service firms, including Indian companies listed in the US, fell by 2 to 5 percent following the announcement. H-1B visas are typically valid for three years and can be renewed for three additional years. Therefore, the new $100,000 annual fee could make it costly for companies to retain Indian professionals, especially when the wait for a green card can be decades. The H-1B program allows US companies to hire skilled foreign workers in fields such as technology and engineering.