Economist Paul Krugman is warning that President Donald Trump’s newly instituted $100,000 fee for H-1B visa holders threatens to erode the foundations of U.S. economic and technological leadership.
Fee Rollout Follows A Familiar Pattern
In his newsletter on Monday, Krugman said that the fee rollout by the administration followed a familiar pattern. “First, without warning, the White House announced a drastic policy change that, on its face, looked catastrophic for many workers and businesses,” he said, noting that it set off “panic and chaos” among employees and companies.
Then, the Nobel laureate economist notes, the administration scrambled to limit the fallout only after widespread confusion, saying that it was a “one-time fee that didn’t apply to those holding previously issued visas.”
Krugman described the policy as “a disastrous move,” one that will “damage American leadership” across several sectors such as tech, education and research, which …