US-owned website imposes a $100,000 fee on obtaining a visa for the Trump category
In a move that has sparked debate and controversy, President Donald Trump has imposed a significant fee on the H1B visa category. The new regulation, announced by Commerce Minister Howard Lutnick, increases the H1B visa fee from a few thousand dollars to $100,000 and is payable annually.
The H1B visas are commonly used by American businesses to bring in qualified employees. However, some allies of Trump have been critical of the H1B visa category, claiming it is being misused and taking jobs away from American employees. The new regulation is criticized for potentially having this same effect, and being a setback for American tech giants that heavily rely on hiring highly skilled foreign workers through H-1B visas.
The tech companies, which have been attempting to build a closer relationship with the Trump administration, are likely to be most affected by the new fee. These firms use the visa to employ specialized talent, and the fee significantly increases their hiring costs. The minister proposed hiring American workers as an alternative to the increased H1B visa fee.
President Trump also announced the "Trump Gold Card," which allows one to settle in the U.S. for $1 million. A new planned Platinum Card will allow one to stay in the U.S. for up to 270 days a year for $5 million, without paying U.S. taxes on income earned outside the U.S. It is important to note that the "Trump Gold Card" and the planned Platinum Card are immigration programs offering residency and extended stays in the U.S. for a substantial fee, and are not related to the H1B visa program.
Trump stated that he thinks the tech companies will be "very happy" with the new H1B visa regulation. The increased fee is intended to make it unprofitable for U.S. companies to bring in inexperienced employees and train them. A significant portion of H1B visa holders come from India, and it remains to be seen how the new regulation will impact the tech industry and the American workforce.
The minister suggested that companies should consider if a job candidate is valuable enough to pay the government an additional $100,000 on top of their salary. This new regulation has certainly stirred up debate and will likely have far-reaching consequences for the American tech industry and the H1B visa program.
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