Strict curbs on H-1B hiring

Instead of a blanket ban, financial institutions that receive government bailout money face strict restrictions on hiring foreigners under the H-1B visa programme for highly skilled workers, reports V Krishna.

Instead of a blanket ban, financial institutions that receive government bailout money face strict restrictions on hiring foreigners under the H-1B visa programme for highly skilled workers.

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The Senate on Friday accepted by voice vote an amendment sponsored by Senator Chuck Grassley that modified a proposal that Grassley had filed with Senator Bernie Sanders. The original proposal would have barred any company receiving funds under the Troubled Assets Relief Programme from hiring workers on H-1B visas.

The new language requires a bailed-out firm that wants to hire H-1B workers to operate as an “H-1B dependent company”. Such companies can hire H-1B visa holders but must comply with strict rules.