Eliminating country-specific immigration cap: Key takeaways
The United States of America has been the world’s most powerful and leading economy for many decades over the last century. It has become a dream for the citizens of many other nations, especially the developing countries to work and settle in the prosperous land of the US. However, there exists a tough competition to secure a permanent residency permit. The previously led US administration by President Donald Trump had imposed several immigration restrictions in the wake of securing the rights of US citizens, thus, putting the dreams of several foreign citizens on hold. However, the newly elected US President Joe Biden has revived the lost hopes.
Elimination Of Country-Specific Immigration Cap
The new President-elect Joe Biden in companionship with the new Vice President-elect Kamala Harris are all set to make the immigration policy of the United States of America more liberal. Following their victory in the US Presidential elections following amendments have been introduced in the immigration laws-
- In July 2019, the US House of Representatives had originally passed legislation that allowed increased the per-country cap on family-based immigrant visas from the original 7% of the total number of such visas available in that year to 15%.
- In the continued effort, the legislation ‘Fairness for High-Skilled Immigrants Act’ also known as S.386 was passed unanimously by the US Senate earlier in December 2020. This bill is fundamental in eliminating the country-specific 7% cap on employment-based green cards or work visas.
- The bill still maintains the annual cap of 140,000 green cards, while attempting to make the allotment process-based highly on merit rather than on a country-based quota system.
- This development is of significance, especially, for the citizens of India followed by China who has been waiting for decades to receive their US green cards. This will put an end to the sorrow of them watching the nationals of other counties enjoying the luxury of getting green cards despite having lesser skillsets.
- The bill will eventually help bridge the gap in the shortfall of skilled manpower in different domains and the availability of foreign talents ready to provide their service by securing citizenship in the United States.
As per the available estimates, under the existing situation, the current waiting time for the Indians is about 195 years to secure their permanent residency in the United States.
Thus, Joe Biden, who is of the firm opinion of retaining the highly skilled foreign manpower that receives its educational degrees and practical experience through research, and internships in the United States is expected to come up with some more amendments in the coming days to boost the US economy through tax collections. US Tax consultants in Toronto and Tax consultants in New Orleans can support a thorough understanding of the subsequent impact on the fiscal health of the US economic and financial scenarios.
Source:
https://www.thehindu.com/news/international/us-senate-passes-bill-eliminating-per-country-cap-for-employment-based-immigrant-visas/article33236955.ece
