Current H1 scenario

[anjanishriram]

Hi dear senior members,

In wake of the news - TARP funded companies cannot hire /sponsor any H1's I've got a few questions

1- Does this mean soon all H1B working here will be in trouble

2- Does this mean , no more US companies (TARP funded) would be hiring
H1B guys at all ?

3-What are the problem a person applying for H1 this year might face or should be looking out for?

I (and alot of ppl like me) would reallya ppreciate if some senior member from the forum can throw some light on these.

[txh1b]

1. Yes
2. Yes
3. Contracting and consulting companies will thrive based on no direct H1bs from these employers.

Read

http://www.aila.org/content/default.aspx?docid=27940

[vsh]

My four cents

Hi dear senior members,

In wake of the news - TARP funded companies cannot hire /sponsor any H1's I've got a few questions

1- Does this mean soon all H1B working here will be in trouble

2- Does this mean , no more US companies (TARP funded) would be hiring
H1B guys at all ?

3-What are the problem a person applying for H1 this year might face or should be looking out for?

I (and alot of ppl like me) would reallya ppreciate if some senior member from the forum can throw some light on these.

I am not a senior member but...

1- Does this mean soon all H1B working here will be in trouble
Not all. Also, the bill mandates the companies benefiting from it should not file NEW H1Bs. It is upto the company to decide about existing H1Bs.

2- Does this mean , no more US companies (TARP funded) would be hiring H1B guys at all ?
Unfortunately, yes, they are obliged to find local candidates to fill in the posts. But this restriction is only for a proposed period of 2 years.

3-What are the problem a person applying for H1 this year might face or should be looking out for?
If the person is outside US and appearing for a visa interview, (s)he should be prepared to convince the consular officer about the work and offer (s)he received. So, getting a visa stamp is the first hurdle, if you are outside US.
Once through, you should make sure your employer is really capable of paying you and has work for you. USCIS is cracking down all the H1B holders on bench. So, make sure you don't end up having your visa revoked as you are out of work.

[anjanishriram]

Thanks vsh and txh1b

[txh1b]

I am not a senior member but...

1- Does this mean soon all H1B working here will be in trouble
Not all. Also, the bill mandates the companies benefiting from it should not file NEW H1Bs. It is upto the company to decide about existing H1Bs.

I have not read the bill or it's contents myself. But I would make an assumption that AILA would not make any mistake in their interpretation of such a bill. Read the AILA link provided.

"The Sanders-Grassley amendment that was originally filed made no pretense about the objective: it barred TARP fund recipients from hiring foreign workers under the H-1B program for one year. In part, we suspect, because of the ugly optics surrounding such a blatantly protectionist message, the amendment was subsequently dressed up with some qualifiers and legal niceties. But the net effect of the amendment that ultimately passed is the same: the financial institutions who receive funding under the program will be hard pressed to hire any foreign nationals (or extend the visas of currently employed foreign workers) for a 2-year period. "

[vsh]

Clarification

Yes, they are obliged not to extend the visas, but it does not stop them from retaining employees with valid visas (for e.g. people who joined them with visas obtained under 2008 quota, which are valid upto 2011).

Anyway, I think this will be clarified once the law comes into effect. Also, I will assume that this will not cause the whole lot of people to be forced to move out of US, because this bill does not talk about hiring contract workers from other staff-augmenting agencies. (atleast not that I heard of so far). So, the institutions will be free to hire contract workers (which might actually cost them less then hiring permanent staff) who inturn are from consultancies that do not seek refuge under this fund and so can sponsor H1s.