US to lose 140,000 jobs annually due to visa fee hike
The Trump administration has announced a raise in the H-1B visa application fee from $10,000 to $100,000—a move that could seriously impact the tech world.
JPMorgan economists estimate this change might mean 5,500 fewer work authorizations every month, with Indian tech workers feeling it most since they make up 71% of recent H-1B approvals.
In the last fiscal year, about 141,000 new petitions were approved and nearly half of those processed abroad would be directly hit by the fee hike.
Long-term challenges for tech and finance sectors
Economists like Loujaina Abdelwahed warn this plan could cost the US around 140,000 new jobs each year and push companies to send roles overseas.
While current H-1B holders aren't affected (the hike targets only new applications), industries like tech, finance, and healthcare that rely on global talent could face long-term challenges if fewer skilled workers come to the US.