On February 4th, the U.S.
House of Representatives passed the America Competes Act,
which could mean big changes to our legal immigration system.
This includes the creation of a new type of visa and exemptions
from annual visa limits, which could help alleviate long visa backlog times.
While it is not what we have been hoping for,
this could be the most meaningful immigration reform
to pass in nearly 30 years and will provide a direct pathway
to citizenship for certain foreign born nationals.
Stay tuned
because we are going to take a closer look at what these immigration provisions are
and who qualifies and what needs to happen for it to become law.
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So what is the America Competes Act
and how does it help immigrants come to the United States?
A version of this bill was passed by the Senate back in June 2021,
but it did not include many of the immigration provisions
that have been included by the House on their version on February 4th.
The goal of this bill is to help the economy compete
even better than China by encouraging more immigrants to come to the U.S.
via start ups and skilled workers.
Included are immigration options designed to attract entrepreneurs
and foreign born scientists and engineers to come to the U.S..
Let's take a closer look at what these provisions are in the bill.
First, the bill creates a new temporary visa called the W visa
for qualifying entrepreneurs who want to start a business
in the United States and for their essential employees.
This new category would have three types of W visas.
The one visa is for entrepreneurs who hold at least
a 10% ownership interest in a qualifying startup
and who also play a central and active role in the business.
To qualify, the company must have been formed within the past five years
and meet certain funding provisions in the 18 months prior to applying.
The W2 visa is for essential employees of the qualifying startup.
The applicant must have an offer from the startup to work in an executive
or managerial capacity and possess the skills, knowledge or experience
to substantially assist in the startup with growth and success.
And the W3 visa is for the spouses and children of the W1 and W2 visa holders.
W visas would be three year temporary visas with three year
extensions available, and they offer the ability for the holders
to self petition for lawful permanent residence
if the startup meets certain financial benchmarks.
Do you think that these immigration provisions will help
immigrants come to the United States?
Leave me a comment below and let me know.
The next provision in the bill creates an exemption from annual green card
limits and backlogs for foreign nationals who hold a Ph.D.
in a STEM field, meaning science technology, engineering or math.
The applicant must have received their degree from a qualified U.S.
research institution or an equivalent foreign institution
and work in a field related to their Ph.D.
field.
The spouses and children
of these individuals would also be able to apply for permanent residence.
This is meant to attract individuals who hold these degrees to come
to the United States and to allow those currently earning STEM PhDs in the U.S.
from U.S.
universities to stay here and quickly obtain permanent residence.
Because these visas would not count towards the annual country cap
or green card limits, it would not only relieve the long
wait time for many qualifying individuals seeking permanent residence, but
it would also indirectly reduce or wait time for other highly skilled workers.
Now that the House has passed the America Competes
Act, what needs to happen in order for it to become law?
As with so much regarding immigration reform that we have discussed
on this channel, so much depends on the Senate.
Though they have already passed their version of the bill back in June.
The Senate did not include
many of the provisions the House has included in their updated version.
This bill would need at least 60 votes to pass,
so Democrats will have to negotiate a compromise that will gain the support
of at least ten Republicans before the America Competes Act to become law.
So now the House and Senate will have to work
on a final version of the bill to be voted on in the Senate.
And we will be watching closely to see if Senate Democrats
will fight to keep the immigration provisions in.
Representative Zoe Lofgren, who proposed and drafted these immigration provisions,
has said that these measures will help ensure that America is once again
the number one destination for the best and brightest innovators
and the next generation of entrepreneurs worldwide.
If you want to hear more about immigration reform,
I will include a link to my video on the Build Back
Better bill, which Senator Joe Manchin recently declared to be dead.
I will also include bringing you additional immigration news
as it becomes available.
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Click here to watch this next video and I'll see you there.