This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

High-tech Pushes For More In Immigration Bill

By ERICA WERNER

WASHINGTON (AP) â¿¿ High-tech companies looking to bring more skilled workers to the U.S. pushed Monday for more concessions in an immigration bill pending in the Senate. Labor unions said the Silicon Valley had already gotten enough in the legislation and further changes risked chipping away at protections for U.S. workers.

The clash is set to play out in a Capitol Hill hearing room this week as the Senate Judiciary Committee resumes consideration of amendments to sweeping legislation remaking the nation's immigration system.

At issue are the highly sought-after H-1B visas that allow companies like Google and Microsoft to bring workers to the U.S. to fill job openings for engineers, computer software experts, and other positions where employers say there's a shortage of U.S. workers. The legislation increases the number of these visas that are available, but also adds in a number of restrictions designed to ensure U.S. workers get a first shot at jobs.

Those protections were championed by Sen. Dick Durbin, D-Ill., a Judiciary Committee member who's also part of the bipartisan "Gang of Eight" senators who authored the immigration legislation.

But high-tech companies have their own champion on the Judiciary Committee: Republican Sen. Orrin Hatch of Utah, who's prepared a slew of amendments to help their cause.

Hatch is seen as a potential swing vote on the immigration bill so backers of the legislation, who are working assiduously to ensure their bill passes the Senate with as many votes as possible, would like to court his support. But Durbin opposes Hatch's efforts and he and other Democrats are under pressure from organized labor not to go along.

"We deemed the current language in the bill to be the compromise. After all, high tech got an awful lot of what it wanted, including the visa limit going up nearly threefold," said Tom Snyder, immigration campaign manager for the AFL-CIO. "Now they want to compromise the compromise."

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,652.56 -20.04 -0.11%
S&P 500 2,054.08 +2.26 0.11%
NASDAQ 4,763.6890 +5.81 0.12%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs