IDK, sounds like it's a bunch of stupid misc. fees. So instead of just raising the minimum wage for H1Bs and indexing it to inflation, they raise taxes (and these taxes on H1Bs don't seem like a consequential funding source. They might even bring in less tax revenue than raising the H1B minimum wage to where it should be if it had originally been indexed to inflation.)
In Washington state it is. But I'm talking about the minimum salary to get an H1B visa which is $60,000. Given that H1Bs are intended to substitute for skilled professionals where the prevailing wage is easily twice that these days, raising it and indexing it to inflation seems like common sense.
If you hire H-1B you should be required to pay a fee greater than it costs to educate an equivalent American. Otherwise you're always in the situation where you have to hire foreigners because no Americans are trained. (or in reality you hire foreigners because they're cheaper for the same role which this no longer makes it the case)
NJ, home of the H1B scam. I worked with these guys at some large corporations on contract and as an employeed (F500 companies). I felt bad for them. Modern serfs. They lived in housing owned by you know the names of these indian firms that do 'anything'. Companies love the low cost, unlimited hours, and no need to hire, they're contractors. they sign deals with big indian vendors to provide everythingunderthesun.
Poor dudes are like ' this is my chance to make it in America' and the high caste indian management treats them like dirt.
The 'old boomers yelling at young people' is a myth in professional America compared to the absolute screaming insults you'd hear hurled at these guys.
And if they messed up? boom, gone, next guy flown in.
Also (in above source), no ACA subsidies for H-1B visa holders (and others), which likely means employers they will have to pay more for health care if they want to cover their immigrant workers
The $100/year fee while an asylum case is pending means that the government is charging someone for the government's own inability to process cases quickly.
The House's[1] SEC. 112104. EXCISE TAX ON REMITTANCE TRANSFERS. 3.5% tax became 1% in the Senate's[2] SEC. 70604. EXCISE TAX ON CERTAIN REMITTANCE TRANSFERS and a lot of the language changed.
The Senate made a lot of changes (Byrd rule also nuked a lot of stuff) so old articles are of limited use to the final bill.
I don't even know if [2] is the actual final text as there is neither an enrolled or public law version on congress.gov yet.
It's super annoying how often we can't read the final text of a bill before Congress votes on it.
> 3.5% remittance fees on sending money out of the US:
The version of the bill that passed a 1% excise is applicable "only to any remittance transfer for which the sender provides cash, a money order, a cashier’s check, or any other similar physical instrument".
This is not true. There's a TCS of 20%, which is an advance tax payment that you can claim back in your income tax returns at the end of the year, and it not an additional tax. This is just a (bad) mechanism to stop black money from leaving the country.
Thanks I didn't realize that it was refundable, I guess "India makes people loan 20% of their foreign remittances to the government interest-free" would be more accurate.
> "India makes people loan 20% of their foreign remittances to the government interest-free" would be more accurate.
It wouldn't. The TCS can be offset against other tax liabilities. The government pays out 6% interest on excess tax payments. For reference, 364 day T-bills are currently yielding ~5.5%.
The idea is to force reporting and add friction. Not raise revenue.
