Posted by: kya_naam_disturb February 16, 2009
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Bailout American Workers First, Senators Say
Wednesday February 11, 2009With 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."
Last edited: 16-Feb-09 10:10 PM