Foreign Direct Investment (FDI) in the U.S. over the last 5 years is over $1.6 Trillion and accounts for an average 500,000 new U.S. jobs per year. FDI is 99% from countries whose nationals can presently immigrate within a few years and as a result, we see large investment in US economy by these foreign nationals.
In 2018, new FDI in the US was $296,368,000,000 – 86% is from Canada and Europe. Less than 1% of it came from India and China (0.15% came from India and 0.6% was from China).
H.R. 1044 and S. 386 “Fairness for High Skilled Immigrants Act of 2019” will bar immigration for 99% of FDI nationals. The House passed and the Senate is considering this legislation, which will radically change workforce immigration in this country. S. 386 and H.R. 1044 will effectively bar investment and workforce immigration from all nationalities except India and China for a decade or more, and therefore hamper USA efforts to attract and maintain foreign investment.
By blocking green cards for nationals that presently comprise the majority of U.S. FDI, this legislation will significantly reduce investment in US economy. Should S. 386 pass, nationals from 193 countries will not be able to come to the U.S. or send their employees here to permanently oversee and direct their businesses. Under this regulatory scheme, immigration will not be possible for entrepreneurs, investors and job creators from all over the world for over a decade while the current backlog of Indian and Chinese H-1B workers (primarily in technology services industry) is processed. If S. 386 passes, the nationals that comprise 99% of the FDI in our country will becompletely shut out from immigrating.
