Earlier quoted context omitted.
" This will definitely help to reduce the use of H1B for hiring underpaid foreign labor." Surely it will, but it also may damage many companies ability to compete effectively. A lot of talented R&D folks, outside of the Valley, may be earning 80-95K doing valuable work - and most of the surpluses will go to those companies, to the US in form of taxes, and remember those people spend mostly in the US as well. So the i…
Here's the thing - if a corporation's "competitiveness" is dependent on a deeply coercive ability to control their employee's right to live and work in the US, with severely limited mobility rights for the worker, I'm not sure I care all that much. If you can't pay high enough wages to compete for talent that has the freedom to choose which job and industry they work in, then you're probably not a high value employer…
This is a little misplaced I think.
Google, FB et. al. are major users of H1 programs and I seriously doubt they are not 'high value employers'.
'The right to live and work' is governed by citizenship, which goes way beyond just economic issues.
In the 'general case' the H1 program is valuable: US companies can bring in top-talent from foreign places for a few years to do great work. That's good. It's when the H1's are used to displace local workers simply to lower wages - this is the problem.