How Will The Senate's Immigration Bill Affect the Technology Industry?

A new Senate Bill attempts to change life for several immigrants in the United States, but they will not be the only ones affected. Investors are left wondering how companies feel about this bill.

Last Friday, the Senate Judiciary Committee began hearings for a bill it hopes to pass this week. According the the Huffington Post, this bill would “secure the border and offer citizenship to millions.” This sweeping bill has drawn a lot of controversy, especially immigration officers and conservative senators who want more protections for American workers.

A pillar of the bill the tech industry lobbied hard for is an increase in capacity for high skilled workers to obtain green cards and skilled guest worker visas, the NY Times reports. Technology firms argue that this bill will actually keep jobs in the United States because jobs will go overseas if workers meeting required skill sets cannot be found domestically. The bill will also help math and science graduates from United State universities apply for permanent residency.

As reported by the NY Times, the tech industry generally supports the bill, but opposes limitation stating that an equally qualified American cannot be available before a foreign worker is hired and an American cannot have been laid off within 90 days.

The NY Times reports that a group led by Mark Zuckerberg has been paying for commercials for Republicans who support the immigration overhaul. The group is supporting a virtual march for Wednesday, which will have the effect of Congress members receiving automated messages supporting the bill.

If passed in the Senate, the bill will have to also be passed in the House of Representatives to become law.