High-tech Industry Big Immigration Bill Winner
The committee approved the changes, with Durbin voting "yes," though only after making clear his discomfort with the outcome.
The AFL-CIO refused to sign off on the deal, but remained supportive of the overall bill.
The tech industry pledged its support for the bill, and promised not to seek additional changes, according to Scott Corley, executive director of Compete America, which represents high-tech companies including Google, Intel and Microsoft.
In the aftermath, Durbin and labor officials accused the tech industry of taking advantage of Hatch's position on the committee in order to reopen a done deal, to the detriment of U.S. workers. But Corley insisted that the tech industry never had agreed to the restrictions in the original bill and was only trying to ensure the H-1B program would be workable for an industry that's good for American workers and the U.S. economy.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts