Last week, all H-1B visa applicants became curious to know the impact of the New H-1B rules that would prevent companies receiving TARP funding to hire H-1B visa workers.
It looked like that new H-1B visa rules will be passed to become a law. However, it looks like things took a dramatic turn today behind closed doors.
New H-1B Rules Removed
Today, President Obama and a few others have asked to remove the new rule from the new stimulus law. Last week, 2 U.S. Senators introduced a new H-1B rule into the stimulus package.
Whenever a new bill is added, majority of U.S. Senators have to approve it. Each State in the U.S. has 2 senators.
In last week’s voting, majority of U.S. Senators agreed to include the new H-1B visa rules into the stimulus package law. So this means banks that receive funding cannot hire H-1B workers who are paid less than $60,000 and they don’t have advanced degrees.
The Stimulus Bill was introduced into the U.S. House of Congress and members of the House voted for a Big Stimulus bill. For the Bill to become a law, the US Senate also have to vote and approve the Bill.
Senators made some changes to the Bill and they voted. The H-1B bill was also added in the Senate version of the bill.
First, the Bank Stimulus Bill was passed by the US Congress. Since changes were made to the Bill in U.S. Senate, now they have to vote again and a resulting final Bill have to pass.
Only after both the US Senate and US House agrees on a Bill, the US President will be able to sign it to make it a Law.
Substantial negotiations had been made between the US Senate and US House on what to include and on how to reach a compromise. President Obama and 2 other Members of Congress had made sure that the New H-1B rules will be removed from the Stimulus Law.
Impact of Removing H-1B Hiring rule
After the H-1B rules are deleted from the final Stimulus Law, banks that receive money from the U.S. Government can legally hire H-1B workers.
So that’s good news to many H-1B visa applicants and also to current employees working in those banks. If you wonder, how could have this happened?
Well, my guess could be because of some very high profile lobbying from attorneys and others. They could have talked to President Obama and others explaining about the impact of not hiring H-1B workers as well as discussed the impact of hiring them.
Read – Impact New H-1B rules on Existing H-1B Visa workers in TARP Companies
Is it confirmed?
So far I have read in a couple of websites only about some breaking news. It will be a few more hours before other sites issue updates and other related news.
If there is any change, you can find new updates here. So stay tuned. So do you think this is good news? If so, write your thoughts as comment below.
Update – Obama Signs New H-1B Rules on Feb 17