(AP) — The shares of top Indian IT companies are falling in response to news of proposedU.S.
legislation that would require salaries for H-1B visa holders to be doubled to make it harder for companies to replace American workers with those from countries likeIndia
By late afternoon Tuesday shares of all the main IT companies, like Infosys, Wipro and Tata Consultancy Services, had all fallen 2-4 percent on the Bombay Stock Exchange.
photo attribute from the Congresswoman’s website
The High-Skilled Integrity and Fairness Act of 2017 introduced in the House of Representative by California Congresswoman Zoe Lofgren aims to end what it calls the “abuse” of the work visa program. If enacted it would raise the minimum salary for those applying for H1-B visas to $130,000 from the current $60,000.