The H-1B topic strikes a personal tone with me. After the dot-com crash in the early 2000's, IT jobs in California were hard to come by. I almost got one job, but the company decided to go with an H-1B worker instead. I had a new young family, but had to go out of state to find work, leaving my family behind. I'm NOT summarily against H-1B's but wish to insist they be used ONLY to fill in true skill shortages instead…
I think it will not change anything to be honest. I work for a relatively large US company we have offices in CA, VA, NC, Ireland, Germany, India. If it becomes harder to higher in US they will just grow teams in other offices.
I agree there is some fluidity to IT labor, but there is a limit to it also.
Besides, the stated on-paper purpose of H-1B visas is to fill (alleged) skills shortages. After the dot-com crash there was a big surplus of labor in the area, yet us citizens were competing with H-1B's still. The stated goal was missing the target during that time.