A bipartisan group of US lawmakers have introduced a bill in the House of Representatives which if passed by the Congress would prevent Indian companies from hiring IT professionals on H-1B and L1 visas.
The ‘H-1B and L-1 Visa Reform Act of 2016’ would prohibit firms from hiring H-1B employees if they employ more than 50 people and over 50 per cent of their staff are H-1B and L-1 visa holders.
Since the revenue model of a majority of big Indian IT companies is heavily dependent on H-1B and L1 visas, such a bill is likely to have a major impact on their businesses.
But before the bill is signed into law by President Barack Obama, it must pass the Senate where it is yet to be tabled.