According to this new Obama's stimulus bill, those receiving stimulus ( bail out) money, will not be allowed to hire H1-B workers. Those who are working in a big Banks will have to bear the brunt first. 

Only the Organization getting the stimulus bill cannot file the H1B. So that means it can take Corp-to-Corp H1B workers and it does not mean that people working there will be removed. It means only they cannot file H1B. If you are in consultancy, then you dont have to worry.

where is the source

yeah yeah where is the source. Don't flood this place by your unreliable source. Thank you

Chik$%$%#ne Source Khoi?

I dont know what source you guys are looking for

but here are one source

http://www.computerworld.com/action/article.do?command=viewArticleBasic&articleId=9127439&intsrc=hm_list




Senate bill would bar H-1B hiring at firms receiving bailout money
Amendment is added to massive federal stimulus bill that gives U.S. workers job priority
By Patrick Thibodeau



February 5, 2009 (Computerworld) WASHINGTON -- Financial services firms that receive federal bailout money will be prohibited from hiring H-1B workers if legislation introduced last night in the U.S. Senate wins adoption.

The bill would bar any recipient of the Troubled Assets Relief Program (TARP), the program being used by the government to purchase some $700 billion of bad mortgage assets, from hiring anyone on an H-1B visa. U.S. Sens. Bernie Sanders (I-Vt.) and Chuck Grassley (R-Iowa) introduced the proposal as an amendment to the massive, $800 billion-plus federal stimulus bill, which is separate from the previously approved bank rescue funds.

"I firmly believe that companies going through layoffs that employ H-1B visas (holding workers) have a moral obligation to protect American workers by putting them first during these difficult times," said Sanders, according to an unofficial transcript of his remarks on the Senate floor.

The argument that Sanders raised for including the restriction in the TARP funding is similar to one that Grassley made to Microsoft Corp. in his recent letter to CEO Steve Ballmer. After the company announced plans to cut 5,000 jobs, Grassley told Microsoft that it had a "moral obligation" to give job priority to U.S. workers over foreigners with H-1B visas.

It's unclear what impact this legislation will have if adopted. Financial services firms hire H-1B workers directly, but most of their use of visa-holding workers may be through outsourcing contracts with overseas vendors, an issue not addressed in this legislation.

The Associated Press released the results of an investigation this week that found that a dozen banks receiving bailout funds totaling $150 billion requested 21,800 H-1B visas over the last six years. Those H-1B visas were applied for by the banks, and not the visas used by the service providers.

Indian offshore outsourcing firms attribute as much as 40% of their revenues from the financial services sector. Offshore companies use workers on H-1B visas to deliver services in the U.S., which may also include transferring some of the work overseas.

Moreover, many financial services have built their own centers in India and elsewhere for IT work and business process services, such as call centers.

Bailout American Workers First, Senators Say

Wednesday February 11, 2009

With another 589,000 jobs lost in January and unemployment at 7.6% and rising, the U.S. Senate has agreed to legislation requiring that banks getting federal bailout money replace laid off workers with American workers only, rather than with foreign H-1B visa workers, for the next two years. Sens. Charles Grassley and Bernie Sanders say the measure will help put Americans back to work first. The American Immigration Lawyers Association (AILA) says the measure creates "a climate of jingoistic divisiveness."


Approved by voice vote as an amendment to the economic stimulus package backed by President Obama – the American Recovery and Reinvestment Act – the measure sponsored by Sens. Grassley and Sanders requires that banks receiving money under the Troubled Assets Recovery Program (TARP) operate as "H-1B dependent" companies. While the banks will still be able to hire foreign H-1B visa workers, they have to attest to recruiting American workers first. In addition, the banks will not be allowed to displace American workers with H-1B visa holders or to replace laid off American workers with foreign workers.


"Wall Street caused the crisis, millions of people lost jobs, including 100,000 in financial institutions. Now they want to bring in foreign workers," said Sen. Sanders in a press release. "Talk about adding insult to injury."


Grassley also cites an Associated Press investigation showing that "a dozen banks now receiving more than $150 billion in bailouts  requested visas for more than 21,800 foreign workers over the past six years to replace laid-off American employees."


On the other hand, the American Immigration Lawyers Association (AILA) accused the Senate of looking at the issue from an "us against them" viewpoint.


"[T]he Senate caved to an old reactionary instinct: when times get tough, turn inward, put on the blinders, and hunker down," stated AILA in a press release. "Unfortunately, we know empirically that this instinct is deeply counterproductive to economic growth and creates a climate of jingoistic divisiveness."

According to AILA, the Senate's action will prevent the financial institutions involved from being able to hire "top-flight global talent who can help create jobs for U.S. workers."

Ran$#$di ko chhora racist gore haru...If they don't want us, STOP H1b Visa..Atleast manchhe lai aas ta hundaina ni