US Senate Approves TARP Amendment Limiting Immigrant Work
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By Patrick Yoest, Of DOW JONES NEWSWIRES
WASHINGTON -(Dow Jones)- Companies receiving funds from the Treasury Department's Troubled Asset Relief Program would see new restrictions on hiring specialized immigrant workers under an amendment added to the Senate stimulus bill Friday.
The amendment, sponsored by Sens. Bernard Sanders, I-Vt. and Charles Grassley, R-Iowa, would apply to foreign workers with H-1B visas, who are often employed in high-tech positions.
Companies receiving TARP funds wouldn't be able to hire workers on H-1B visas unless have met several conditions. The companies would have to certify that they haven't already actively recruited American workers for open positions and that they hadn't replaced American workers with workers on H-1B visas.
The hiring conditions on companies receiving TARP funds are identical to the conditions currently on companies that are "dependent" on H-1B workers.
-By Patrick Yoest, Dow Jones Newswires; 202-862-3554; patrick.yoest@ dowjones.com