Trump Imposes $100,000 Fee on H-1B Visas, Introduces "Gold Card" Program

President Donald Trump has signed an executive action imposing a $100,000 application fee on H-1B visas, aiming to curb what his administration calls overuse of the program. The measure, intended to incentivize companies to employ American workers, will restrict entry under the program unless accompanied by the payment. Trump also directed the creation of a "gold card" immigration pathway that would fast-track visas for certain immigrants in exchange for a hefty fee. The policy threatens to significantly impact industries that depend heavily on H-1B workers, with 65,000 visas granted annually, and another 20,000 reserved for those with advanced degrees from US higher education institutions.

Key Takeaways:

• The new fee structure, which includes a $100,000 application fee, plus vetting costs, is intended to ensure that only the most skilled foreign workers are hired by US companies.
• The "gold card" program, backed by Commerce Secretary Howard Lutnick, will speed up the visa process for foreigners who can afford to pay $1 million or get their employer to pay $2 million.
• The administration's efforts to curb immigration are part of a wider effort to overhaul the nation's posture toward foreign workers, aiming to tip the balance of immigrants toward entrepreneurs and high earners.
• The H-1B visa program has been a contentious issue, with Trump previously restricted access to H-1B visas during his first term and targeting the program in past remarks.
• Trump's stance on the H-1B visa program has fluctuated, and the issue has sharply divided his supporters at times, with some defending the program as essential for US companies to maintain competitiveness and grow their business.

Statistics:

• 65,000 H-1B visas are granted annually, with another 20,000 reserved solely for people who hold advanced degrees from US higher education institutions.
• $100,000: the proposed application fee for H-1B visas.
• $1 million: the fee required for foreigners to expedite their visa process under the "gold card" program.
• $2 million: the fee required for companies to expedite the visa process for a foreign worker they sponsor under the "gold card" program.

Sources:

• CNN: "Trump signs executive action to impose $100,000 fee on H-1B visas, introduces 'gold card' program"
• The New York Post: "Trump defends H-1B visa program, says he's a 'believer in H-1B'"
• [Live updates from CNN have been used as reference to preserve article integrity, though, in compliance with the exact citations, it should be cited as "CNN - Live Updates - Trump signs executive action to impose $100,000 fee on H-1B visas, introduces 'gold card' program"].