Senators Support STEM Immigration Bill | Immigration Compliance Group News
By: Timothy Sutton, Communications Editor
Kansas Senator Jerry Moran (R-Kan.) has introduced a Senate Bill named S.3217 Startup 2.0, a bill to jump-start economic recovery through the formation and growth of new business, and for other purposes. Numerous senators support Startup 2.0, which will infuse the skilled labor market with an additional 50,000 visas for immigrants with post-baccalaureate degrees in any field listed with the Department of Homeland Security STEM Designated Degree Program (science, computers, and medicine). Applicants can be students seeking degrees or professionals practicing in any of the enumerated STEM fields.
Additionally, Startup 2.0 allocates 75,000 visas for qualified entrepreneurs who (1) hold a nonimmigrant visa or have or will complete a STEM listed degree, (2) register a business that employs two or more full-time non-relative employees and invests or raises at least $100,000 that (3) grows the business to an average of five employees within a three year period.
At first glance, Startup 2.0 is a positive indicator that immigration reform may be shifting toward pro-business legislation. This bill would create access to citizenship for educated foreign entrepreneurs who may lack the funding necessary to apply for an EB-5. Startup 2.0 may also free up the quota on H1-B visas, particularly the Master’s degree exception. The current H1-B quotas as of May 18, 2012 are 42,000 for the H-1B regular cap (65,000 quota) and 16,000 for the US Master’s Degree cap (20,000 quota). The cap is expected to be reached within 2-3 weeks.
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Tags: H-1B Quota, H-1B Visas, Investor Visas, Jerry Moran (R. Kansas), S.3217, Skilled Labor Market, Skilled Workers, Specialty Occupations, Startup 2.0, STEM Designated Degrees, STEM Students