A key Senate panel has heard that an expansion of H-1B visa scheme that is quite popular among Indian IT professionals could help the United States in a big way in competing with emerging economies like India and China.
Treasury Secretary Timothy Geithner, in a testimony before the Senate Committee on Finance, remarked he is in favor of H-1B visa program expansion offered to highly skilled professionals and students to live and work in the US.
From in.finance.yahoo.com:
“I agree with you on H-1B,” Geithner remarked when Senator Orrin Hatch from Utah said that the expansion of the scheme would help the US immensely in competing with countries like India and China.
“It is ridiculous that the administration doesn”t weigh in on that. And I know why they don’t, but it’s ridiculous not to. We have now created real competitors in India and in China and just to mention two places, but others as well,” Hatch said.
“Even in health care we”ve had competitors in Thailand and all over those areas that — that are much more competitive than we are. And we’re not doing the things that really we ought to do to get competitive. Look, I want to help you, so weigh in on this H1-B thing. That would help us a great deal,” the Senator said.
Geithner said in response “I agree with you on H-1B… It’s just a question of how best to do it. But, you know, the great thing (is to expand it).” “Expand it. Allow more people who are qualified,” the Senator said.
Geithner said in response to the remarks from the Senator, “I agree. That’s the way you have to do it.”
