The US is planning major changes to the H-1B visa and Green Card system. Commerce Secretary Howard Lutnick has also hinted at a Gold Card scheme, which could impact Indian professionals.
H-1B Visa: US Commerce Secretary Howard Lutnick has signaled significant changes to the H-1B visa and Green Card system. He argues that the current system overlooks American workers and prioritizes foreign professionals. Indian professionals, in particular, have benefited the most from this program.
Visa System Under Scrutiny After Tariff War
Recently, the US increased trade tensions by imposing a 50% tariff on India. Now, the talk of changes to the H-1B visa and Green Card system has heightened concerns among Indian professionals. Commerce Secretary Howard Lutnick has made it clear that American jobs will now be prioritized for American citizens.
Lutnick's Strong Remarks on H-1B Visa
In an interview with Fox News host Laura Ingraham, Howard Lutnick even called the H-1B visa a "Scam." He stated that this program is filling American jobs with foreign workers. Companies in the US should first offer jobs to people from their own country.
He said that the current system provides job opportunities to foreign professionals while neglecting American workers. This is why change has become necessary.
Questioning the Green Card System
Lutnick also raised questions about the Green Card system. He said that the average American worker earns $75,000 annually, while the average salary of a Green Card holder is $66,000. This indicates that the current system is failing to attract high-income and high-skilled individuals.
He argued that the system is prioritizing lower-level individuals, while the US needs people who can contribute economically and technologically.
Hinting at Donald Trump's New Policy
Lutnick said that under the leadership of Donald Trump, there will be a major change in Immigration Policy. The goal now will be to attract people with High Skill and High Capital.
He revealed that under the new policy, the US is considering introducing a "Gold Card" scheme. Through this, foreign citizens who invest in the US will receive Permanent Residency.
What is the Gold Card Scheme?
Under the Gold Card scheme, if a foreigner invests at least $5 million, they can get a US Green Card. Lutnick claimed that there are already 250,000 potential applicants in line for this scheme.
If this scheme is implemented, it could bring up to $1.25 trillion in investment to the US. Lutnick says that the time has come to select the "Best People" to come to America.
Trump's Stance on H-1B Visa
Although Donald Trump has previously spoken in support of the H-1B visa. He had said that the H-1B program connects the US with "Skilled and Talented" people. This expands American businesses and benefits the economy. But now, the signs of new changes make it clear that stricter H-1B and Green Card policies may be seen in the future.
Impact on Indian Professionals
Any changes to the H-1B visa system will have the biggest impact on Indian professionals. In fiscal year 2023, 72% of H-1B visas were granted to Indian citizens.
Currently, 65,000 H-1B visas are issued each year. In addition, 20,000 visas are for US advanced degree holders. All these visas are obtained through a Lottery System. If the policy becomes stricter, thousands of Indian IT and tech sector professionals could be affected.
Why is a New Policy Necessary?
The US says that while the current policy attracts Skilled Workers, the number of high-income and high-investment individuals is low. Through schemes like the Gold Card, the US wants to attract people who bring not only skills but also capital. This will provide long-term benefits to the American economy.
